DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 1 1/2 cents and May soybeans are down 5 1/4 cents. May KC wheat is up 28 3/4 cents, May Chicago wheat is up 11 3/4 cents, and May MIAX Minneapolis wheat is up 10 3/4 cents. June crude oil is up $2.69 and Dow Jones futures are down 271 points. The U.S. Dollar Index is up 0.13 and June gold is down $21.00. Heading into the final minutes of trade for Thursday, soybeans remain moderately lower while corn has bounced on either side of unchanged. Wheat remains the focus of the trade, with Kansas City prices outpacing other wheat markets to an almost 30 cent move higher, while Chicago and Minneapolis hold double digit gains as well. Concerns for production potential of hard red wheat in the central and southern U.S. Plains is driving the bullish move.

Posted 10:38 -- May corn is up 1/4 cents and May soybeans are down 3 cents. May KC wheat is up 12 1/2 cents, May Chicago wheat is up 5 1/4 cents, and May MIAX Minneapolis wheat is up 3 3/4 cents. June crude oil is up $0.82 and Dow Jones futures are down 22 points. The U.S. Dollar Index is unchanged and June gold is down $1.30. At midmorning, corn and soybean futures are little changed from the open, with soybeans still posting marginal losses and keeping to the tight trading range observed over the past five weeks. Meanwhile, wheat futures are moving higher, with double-digit gains in the Kansas City market after this morning's Drought Monitor reported 70% of U.S. winter wheat area is in some form of drought, the highest reading since December 2022.

Posted 08:38 -- May corn is down 1/4 cents and May soybeans are down 1 3/4 cents. May KC wheat is up 7 cents, May Chicago wheat is up 2 cents, and May MIAX Minneapolis wheat is up 2 cents. June crude oil is up $1.18 and Dow Jones futures are down 238 points. The U.S. Dollar Index is up 0.13 and June gold is down $9.20. Row-crop futures are quiet and mixed to open Thursday's trade with soybeans falling on a continuation of the uptick in bearish momentum seen late in Wednesday's session and perhaps tied to higher acreage ideas given the high cost of fertilizer around the globe amid the halt of trade through the Strait of Hormuz. Corn futures are easing after four straight days higher, while wheat futures recover Wednesday losses and Kansas City prices remain near 2026 highs.

Livestock

Posted 11:38 -- June live cattle are up $0.38 at $243.45, August feeder cattle are up $0.60 at $359.475, June lean hogs are up $0.60 at $103.225, May corn is down 1 1/4 cents per bushel and July soybean meal is up $1.00. The Dow Jones Industrial Average is down 89.70 points and NASDAQ is down 63.16 points. Thursday's export report shared that beef net sales of 15,100 mt for 2026 were up 26% from the previous week and 17% from the prior 4-week average. The three largest buyers were South Korea (5,100 mt), Japan (4,100 mt) and Mexico (2,100 mt). Pork net sales of 16,100 mt for 2026 -- a marketing year low -- were down 57% from the previous week and 60% from the prior 4-week average. The three largest buyers were Mexico (8,900 mt), South Korea (3,300 mt) and Columbia (3,300 mt).

Posted 08:35 -- June live cattle are down $1.80 at $241.275, August feeder cattle are down $2.20 at $356.675, June lean hogs are down $0.15 at $102.475, May corn is down 1 cent per bushel and July soybean meal is up $1.20. The Dow Jones Industrial Average is down 150.90 points and NASDAQ is down 104.01 points. The livestock complex is off to another lower start for the day as all three of the markets are trading lower. No new cash business has developed at this point, and there's a chance that the rest of the week's business could be delayed until Friday.

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