DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:41 -- May corn is up 1 1/4 cents per bushel, May soybeans are down 6 3/4 cents, July KC wheat is down 3 1/2 cents, July Chicago wheat is down 3 1/4 cents and MIAX July Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is up 280.34 points. The U.S. Dollar Index is up 0.160 and June crude oil is up $3.45 per barrel. June gold is up $33.80 per ounce. Ahead of the Wednesday close, soybeans, soymeal and bean oil have reversed course to trade lower. Corn is up a penny in quiet trade and wheat remains mixed to mostly lower. The bean oil reversal is happening despite the rise in crude oil as the market may have become overdone. Expect the volatility and uncertainty to extend this week ahead of any news from the Iran conflict.

Posted 10:35 -- May corn is up 2 1/4 cents per bushel, May soybeans are down 3 cents, July KC wheat is up 1 1/4 cents, July Chicago wheat is down 3/4 cent and MIAX July Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is up 392.20 points. The U.S. Dollar Index is up 0.100 and June crude oil is up $2.63 per barrel. June gold is up $33.30 per ounce. At mid-morning, soybeans and soymeal are lower, bean oil and corn are higher and wheat is mixed in very quiet trade. Traders are awaiting developments from potential peace talks in Pakistan but the uncertainty of that continues.

Posted 08:38 -- May corn is up 1 cent and May soybeans are up 1 3/4 cents. May KC wheat is down 2 3/4 cents, May Chicago wheat is down 1 cent, and May MIAX Minneapolis wheat is down 2 1/2 cents. June crude oil is up $1.97 and Dow Jones futures are up 396 points. The U.S. Dollar Index is up 0.05 and June gold is up $43.40. Row-crop futures are mixed on the open with corn and soybeans a touch higher, but wheat lower on profit-taking after rallying to calendar year highs in the KC market. Three ships have reportedly been attacked in the Strait of Hormuz in the past several hours despite President Trump stating on Tuesday the ceasefire would be extended. The U.S. blockade remains in effect. Crude oil futures are higher for a third straight session as a result.

Livestock

Posted 11:32 -- June live cattle are down $0.55 at $243., May feeder cattle are down $0.25 at $358.3, June lean hogs are down $0.25 at $102.95, May corn is up 1 3/4 cents per bushel and July soybean meal is down $1.90. The Dow Jones Industrial Average is up 293.15 points and NASDAQ is up 303.09 points. The livestock contracts are trading mixed as the cattle contracts are still trading softer as traders yearn to see greater support from the fed cash market, meanwhile the hog complex is still trading higher. Bids have surfaced in the fed cash cattle complex, but still no sizeable trade has developed.

Posted 08:38 -- June live cattle are down $0.80 at $242.75, May feeder cattle are down $0.70 at $357.85, June lean hogs are down $0.08 at $103.125, May corn is up 1 1/4 cents per bushel and July soybean meal is up $0.10. The Dow Jones Industrial Average is up 410.23 points and NASDAQ is up 178.96 points. The cattle complex is trading lower at Wednesday's start as traders desperately want to see continued fundamental support. No cash cattle trade has developed yet and both bids and asking prices remain elusive at this point.

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