Seed Consultants Market Watch 2/4/2013 11:42 update Gary Wilhelmi

first_imgHome Market Market Watch Seed Consultants Market Watch 2/4/2013 11:42 update Gary Wilhelmi Facebook Twitter 11:42 updateMarch corn brackets $7.00 -7.50, March beans $14.50-15.01 and March wheat $7.50-8.1010:53 updateCome backer rally in equitiesEarnings have been mostly good at past the half way pointWeaker pork cutout lead factor in meatsCorn demand is central theme and exports have been poor as 36 ethanol plants have closedWheat demand is limited as there are many more competitive producers, there used to be just 5 majorsChinese pre New Years buying has been the feature in soybeans and it starts 2-9Morning CommentFinancialRoutine corrective action in stocks motivated by Europe’s lingering economic problemsIt is possible that equities could break 10% in a normal adjustmentThe firming dollar is another measure of European woesEarnings continue to come out at about the half way point of the reportsLivestockNarrow ranging meat tradeWatch for a bottoming action in boxed beef over a period of timeMargins are still inn the red in hogsCash steadyPork cutout was up $1.77 coming into Monday morningGrain and soybeansGrains eased a bit as soybean challenged resistance up at $15.01 ¼S America remains the focal point and will be for a few more weeksHeavy rain stalled the good looking harvest in Mato GrossoLogistical delays are common in S American ports this time of yearEgypt bought 60,000 tons of US SRW and watch for additional quantitiesDollar firms and that is a drag on US exportsWe have had some snow in Central Corn Belt, but need much more to refill the riversS/D update Friday with no great expectations of market moving news10:53 updateDow off 11, S&P 10 and NASDAQ 16WTI crude down $1.41April cattle up $.62 on inventory reportWatch for sign of low on boxed beefEgypt buys 60,000 tons of US SRW a small amountHeavy rains stall bean harvest in Mato GrossoGulf corn mixed and soybeans steady to 2 lowerOutsides markets pressure grainsDollar in range, but up $33 at 79.44Kazakhstan wheat exports 7.8 MT down from 12.1 MT last yearMorning CommentFinancialPre open Dow off 41Revived euro concerns puts DAX down 1.5% and FTSE off 1.2%Spanish Prime Minister suspected off kick backsProducer prices down .2% in DecemberFactory orders seen up 2.3%Earnings continue with about one-half to goWTI crude correction down $1.26Brent crude off $1.08Dollar firms 73 to 79.45LivestockCattle inventory off 2% at 1952 level as forecastNebraska beef $203 or $128-129Southern cash $125Boxed beef fell again off $2.76 on choiceSpread at $4Cow calf numbers how signs of rebuildingMargins contract with demand softKill up 400 cattle and 20,000 hogsRussian meat import ban begins 2-11Pork cutout 41 loads up $1.77 carcass, $3.23 loin’s and $3.49 hamsGrain and soybeansHigher night trade wit March corn 2 higher, March beans up 14 and March wheat 5 betterSupply-demand update FridaySome rain in Argentina and S. Brazil with more in wider coverage expected next weekCurrent temps not damaging in 80-90’sFunds add about 13,000 longs in corn, 7000 beans and 3000 wheatExport feature continues to China in soybeans, as they approach their New Years periodLow water on Mississippi persists slowing the passage of corn and soybeans to the GulfDollar index forms back to near mid range SHARE By Hoosier Ag Today – Feb 4, 2013 Facebook Twitter Seed Consultants Market Watch 2/4/2013 11:42 update Gary Wilhelmi SHARE Previous articleFantasy Food Shortages — Don’t You Believe ItNext article10 receive Purdue Ag Alumni Certificate of Distinction Hoosier Ag Todaylast_img read more

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