Seed Consultants 6/12/2013 Market Watch with Gary Wilhelmi

first_img Seed Consultants 6/12/2013 Market Watch with Gary Wilhelmi SHARE FinancialGlobal volatilityDow falls 127 points to close at 14,995 or below around number supportS&P down 14NASDAQ off 36Upcoming Fed meeting rocks the financial boatWTI crude up $ .48 under $ 96Dollar index 81.00 off 11 is on the soft side but exports have not benefited from thatGold closed $13 higher is of no consequence10 year note pushes up top 2.23 %LivestockCash cattle call slightly lower, but August futures do nothingTypical BBQ cuts for Father’s DayJuly hogs were high at $110.07 but profit taking shaved the close back to $99.20Reduced slaughter has boosted the hogs and porkNothing new on Hog virus or Chinese purchase rumorsGrain and soybeansDec corn closes below $5.40 support on a neutral S/D reportYield ideas cut by 1.5 bpa, but production estimate unchanged, with no survey until AugustNov beans sold off 13 cents to close in range at $13.16Soybean subjective crop guess was as expectedFinal acreage of corn and soybeans on 6-28Wheat not a variance with expectations, but July dropped 14 cents to $6.82 just above supportBlack sea wheat is seen up 18%Global wheat is ampleS/D reports this time of the year are just, Ball Park guessesSevere storms are moving toward Chicago, but next week look pretty good for soybean plantingAussie wheat estimate raised 500,000 tons to 25.4 MT or 15% greater than a year ago1:05 updateDec corn falls below $5.40, so watch the close the S/D update was unchanged regarding production despite a 1.5 bpa cut in yieldNov beans over 20 lower but in range of $12.80-13.30 with the S/D staticJuly wheat down 15 centsBlack seas wheat production seen up 18%Market action, even in these speculatively polluted times is the best measureJuly hogs reached $100.07 but the fell back to $99.10 unchangedCattle just moseying aroundDow off 58, S&P down 6 and NASDAQ 20 lower11:03 updateStocks flat lineJapan says that GMO PNW wheat questions will not have long term impactJuly wheat last $6.90 off 7 centsCorn and soybean pancakeJuly hogs quietly up $.47 at $99.60 Home Market Market Watch Seed Consultants 6/12/2013 Market Watch with Gary Wilhelmi FinancialPre open Dow up 77 is a rebound from 116 point lossGerman bank warns about Chinese YuanEuropean and Asian market mixedInterest rates persist in their rise now at 2.21% on the 10 year up from 1.71% a few weeks agoWTI up $.21 at $95.59Gold steady at $1376Dollar tame up 9 after a 58 point jump TuesdayIt’s a mad-mad world in monetary policy and just plain confused in fiscal strategyLivestockCash cattle are offered at $125 up from a $122 trade last weekBoxed beef off $.19 and up $.72 selectFeatures for Father’s Day: 5# of 73% ground beef for $1.88, choice T-bone $6.98, spare ribs $2.49 and legs and thighs $1.29Pork cutout $1.38 with loins up $ 85, hams $1.06 and bellies down $1.66Slaughter on par cattle at 125,000 and still light in hogs at 402,000July hog resistance $100-101Grain and soybeansS/D update at 11 AM CDT will likely be just fine tuning13/14 wheat carry over 640 m, corn 1.795 b and soybeans at 268 mThis compares with 12/13 at 733 m wheat, 759 m corn and 121 m beansNov beans closed at $13.29 with resistance from 13.30- 13.50Corn and wheat in mid range6-28 acreage report is a final summaryArgentine framers to suspend cash grain sales from Sunday –Wednesday in opposition to government policySevere storms to traverse the Midwest today and the several warm and dry to follow and this will drive soybean plantings toward their conclusion, now at 71%Any corn or soybean switches or replants are usually not major market movers Facebook Twittercenter_img SHARE Facebook Twitter By Hoosier Ag Today – Jun 12, 2013 Previous articleDuPont Pioneer Agronomy Update with Dan EmmertNext articlePromising Signs for Farm Bill in House Hoosier Ag Todaylast_img

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