DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:44 -- July corn is up 7 3/4 cents per bushel, July soybeans are up 7 3/4 cents, July KC wheat is up 6 1/4 cents, July Chicago wheat is up 4 1/4 cents and MIAX July Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is up 8.01 points. The U.S. Dollar Index is up 0.080 and June crude oil is down $3.12 per barrel. June gold is up $10.90 per ounce. Grain and soy markets are mostly higher heading into the Friday finish. Crude oil has slipped lower as Iran has allegedly presented another peace plan to the U.S. Corn and beans are firmer on cold weather and germination concerns, but traders expect we will see planting progress reach over 35% on both corn and soy. Bean oil futures forged another new high but is extremely overbought.

Posted 10:30 -- July corn is up 5 1/4 cents per bushel, July soybeans are up 4 1/2 cents, July KC wheat is up 3 cents, July Chicago wheat is down 3/4 cent and MIAX July Minneapolis wheat is up 0.0175 cents. The Dow Jones Industrial Average is up 71.68 points. The U.S. Dollar Index is down 0.170 and June crude oil is down $3.19 per barrel. June gold is up $19.80 per ounce. At midmorning, December corn is about to test the $5.00 level again. Wheat, soybeans and bean oil are all higher and meal near unchanged. Crude oil is slipping lower, now down over $3 per barrel. Volume appears to be light for the first day of the new month as several foreign nations celebrate May Day.

Posted 08:54 -- July corn is up 2 1/2 cents per bushel, July soybeans are up 2 3/4 cents, July KC wheat is up 2 cents, July Chicago wheat is steady and July Minneapolis wheat is unchanged. The Dow Jones Industrial Average is up 106.89 points and September crude oil is down $3.28 per barrel. The U.S. Dollar Index is down 0.060 and September gold is down $16.10 per ounce. With external pressures remaining at bay, the grain complex is trading higher at Friday's start. And so long as no external pressure develops ahead of Friday's close, the market is poised to maintain a steady rally through the day's close as both the corn and soybean markets have staged strong rallies this week.

Livestock

Posted 11:41 -- June live cattle are down $0.03 at $253.975, August feeder cattle are up $1.80 at $375.325, June lean hogs are down $1.08 at $101.2, July corn is up 5 3/4 cents per bushel and July soybean meal is down $0.60. The Dow Jones Industrial Average is down 36.28 points and the NASDAQ is up 243.81 points. The livestock complex again trades mixed into the day's noon hour as cattle continue to venture higher while the hog complex trends lower. No new cash cattle trade has developed at this point and it's looking like the bulk of this week's trade is done with.

Posted 08:35 -- June live cattle are up $0.43 at $254.425, August feeder cattle are up $1.23 at $374.75, June lean hogs are down $1.38 at $100.9, July corn is up 1 1/2 cents per bushel and July soybean meal is up $0.30. The Dow Jones Industrial Average is up 127.22 points and NASDAQ is up 164.18 points. The livestock complex is again trading higher at Friday's start although traders would like to see continued fundamental support, the bullishness of the marketplace is still alive and well (especially in the cattle sector). No bids are currently on the table and it looks like the bulk of this week's trade could be done with.

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