Home Market Market Watch Seed Consultants 5/28/2013 Market Update with Gary Wilhelmi

Seed Consultants 5/28/2013 Market Update with Gary Wilhelmi

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11:09 update

Dow down 151, NASDAQ 33 and S&P 12
German economy has slowed DAX holds off 1.6%
Cattle and hogs up about $ .60
Corn and wheat near steady as soybeans skim profits
Volumes light in AG markets

10:22 update

Dow has been 111 lower
Mortgage rates rise Fed tapering fears
IMF lower China growth rate
Russian wheat estimate 50 MT with 13-14 MT for export
China cancels 144,000 tons of 12/13 beans is just a repositioning
Wheat condition off 3% is in the market
Profit taking comes to soybeans off 12 in July

 

Financial
Stocks lose some of their speculative luster late
Dow up 107, S&P 11 and NASDAQ 30 higher
All markets falling short of new highs
Consumer confidence at 76.2 and home sales up 11% were early motivations
DAX ended up 1.2% and FTSE 1.6%
Asian markets firmed late in their trade after slumping early
WTI up $.58
Gold down $6 at $1385
Dollar closed up 45 at 84.15
OPEC faltering under expanding US and global oil production
In an extremely volatile trade specs followed specs
It was a war of the infernal machines

Livestock
Meats conclude docilely
Holiday clearance disturbed by cool wet weather
Expensive beef is getting a lot of air time in the sensationalized media
Wednesday features will again paint a budgetary bias as many folks can not afford to but pricy beef
Hogs end where they started
Pork cut out mixed

Grain and soybeans
Nov beans break out above $12.80 resistance closing at $12.89, in a 40 cent gain
Dec corn strong up 15 cents but short of resistance at $5.60-70
July wheat waffled up 4 at $6.94 at mid range
Export inspections were deficient at 12m corn, 3 m beans and 21 m bushels of wheat; whereas 29 m per week is needed as the season winds down
Ukrainian wheat projected at 19 MT
French and German crops also look good
Intense volatility is not substantiated by fundamentals
About 10% of corn planting remain and 50% of soybeans
Watch areas of extreme rains for flooding and wash outs
It was drought dry for almost a year and now it is too wet in places
All in all things tend to even out
What corn is left needs to be completed in two week’s?
Stocks lose some of their speculative luster late
Dow up 107, S&P 11 and NASDAQ 30 higher
All markets falling short of new highs
Consumer confidence at 76.2 and home sales up 11% were early motivations
DAX ended up 1.2% and FTSE 1.6%
Asian markets firmed late in their trade after slumping early
WTI up $.58
Gold down $6 at $1385
Dollar closed up 45 at 84.15
OPEC faltering under expanding US and global oil production
In an extremely volatile trade specs followed specs
It was a war of the infernal machines

Livestock
Meats conclude docilely
Holiday clearance disturbed by cool wet weather
Expensive beef is getting a lot of air time in the sensationalized media
Wednesday features will again paint a budgetary bias as many folks can not afford to but pricy beef
Hogs end where they started
Pork cut out mixed

Grain and soybeans
Nov beans break out above $12.80 resistance closing at $12.89, in a 40 cent gain
Dec corn strong up 15 cents but short of resistance at $5.60-70
July wheat waffled up 4 at $6.94 at mid range
Export inspections were deficient at 12m corn, 3 m beans and 21 m bushels of wheat; whereas 29 m per week is needed as the season winds down
Ukrainian wheat projected at 19 MT
French and German crops also look good
Intense volatility is not substantiated by fundamentals
About 10% of corn planting remain and 50% of soybeans
Watch areas of extreme rains for flooding and wash outs
It was drought dry for almost a year and now it is too wet in places
All in all things tend to even out
What corn is left needs to be completed in two week’s?

1:34 update

Nov beans, go to the orders, and exceed their $12.80 resistance with a last at $12.86

10:51 update

Nov beans $15.07 with only a spike high above
DAX up 1.5%
Home prices up 11% biggest jump since 2006
Dollar up 36 at 84.01
WTI crude $1.23 higher
Gold $1375 off $17
Volume light on grain and soybean rallies
Small volume in meats