Seed Consultants 4/21/2013 Market Closing Comments with Gary Wilhelmi

first_img Facebook Twitter Seed Consultants 4/21/2013 Market Closing Comments with Gary Wilhelmi SHARE SHARE By Hoosier Ag Today – Apr 22, 2013 FinancialAimless equity markets up 19 on the Dow, 9 S&P and 27 NASDAQDAX index plus .2%WTI crude oil up $ .80Gold $29 higher all dayDollar in a narrow range off 7GE, J.P. Morgan and CAT earnings and outlook all negativeMarch home sales off .6%Big earnings week with about 170 reporting in totalLivestockJune cattle off $ .45 and June hogs down $ .75Cash cattle offer at $128Boxed beef came in soft as did pork cutoutCold storage: up 5% versus a year ago in beef, 6% in total pork and down 22% in belliesGrain and soybeansJuly corn off 10 cents, July soybeans down 19 and July wheat followed down 9Sunny Monday with showers possible Tuesday and Wednesday in the Central Corn BeltAdvance forecast looks ideally warm and dry in the 11-16 day time frame, but that’s guess workCorn plantings expected at 6% versus an 18% averageWheat crop condition seen lower from 36 % good to excellent last weekWeekly export inspections are running at less than 50 % of last year in corn, just a little above in soybeans and on par bin wheat. The markets as usual had little reaction to export shipments10:51 updateWall Street firms and regulators are trying to subvert privacy laws regarding their employee’s social media accounts. Where were those snoops when the “Bomber Brothers” were on line?Unrelated to that, stocks continue to recede with Dow off 729:43 updateDow opens up 28 pointsJune cattle off 4 .07 and hogs down $ .40July contracts $6.23 corn with support at $6.18, $13.73 soybeans with support at $13.50-60 and wheat $ 7.07 with support at $6.90—all 9-10 lowerVolume just 10,000 corn, 15,000 soybeans and 5000 wheatMorning CommentFinancial170 of S&P report this weekSo far 57% of reports have missed the markApple, CAT and Exxon this weekGDP 1Q FridayDow tests 14.500 supportSlower Chinese growth at 7.7% versus 12.6% a year ago weighs on global marketsMarket action looks wearyWatch out for Turkey and VenezuelaBeware of the liberal extremists packing the left side of the equity markets boats, like gold, one good capsize threatens another.CAT comes out softStocks called higherDAX up .7% and FTSE .5% higherWTO crude $88.85 up $ .99Gold jumps $31 to $1427Dollar index 13 higher in Range at 82.84LivestockCOF bearish at 95% with placements up at 106% and marketing’s as expected at 92%Cash was $ 126 and this morning is offered at $128Choice boxed beef was $ .69 lower and select $ .62Slaughter 610,000 from 606,000Hog kill 2,079,000 versus 2,011,000Higher slaughter means improved demandPork cutout $.41 lowerGrain and soybeansLosses over night 7-8 centsCooling temps and rain Tuesday and Wednesday in Central Midwest11-16 long shot forecast warmer and drierCorn plantings expected at 6% versus an 18% averageWheat condition reduced from 36 % g-xAnother cold night in the Texas PanhandleCheck out residual damage from Chinese earthquake Home Indiana Agriculture News Seed Consultants 4/21/2013 Market Closing Comments with Gary Wilhelmi Facebook Twitter Previous articleNCBA Turns to Supreme Court to Stop EPA GHG RegsNext articleIndiana Corn Finally goes in the Ground as NASS Reports 1 Percent Planted Hoosier Ag Todaylast_img read more

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