Home Market Market Watch Seed Consultants 6/20/2013 Market Watch with Gary Wilhelmi

Seed Consultants 6/20/2013 Market Watch with Gary Wilhelmi

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Financial
Bernanke’s vagueness punctures bloated markets
No Fed fund rate change likely before 2015
Gold boom has turned to bust as August gold fall $73 to 1300
Dollar rockets up another 41 to 81.44 and that kills exports
WTI crude drops $1.31 to $96.33
DAX off 2.3% and FTSE 2.1%
Canadian dollar and Rupee dive
Dow under 15,000 early but still at mid range
Speculative frenzy in reverse

Livestock
Pig virus headlines national news
Smithfield deal comes under congressional scrutiny, although some of the comments I have heard are misguide
Hog hit new high
Pork cutout up $.92 with loins $.46 higher, hams $3.13 and bellies down $1.14
Cattle were pulled higher but slumped late
Cash offers at $122
Boxed beef off $1.26 under $200
Kill 9000 lower in cattle and 10,000 hogs for the week
Beef exports 9000 tons and pork 8.300
Pig crop Friday

Grain and soybeans
Profit taking seized the corn, wheat and soybeans markets over night
Funds yesterday bought 18,000 corn, 7000 beans and 6000 wheat
Weekly exports light across the board
Acres and Quarterly stocks 6-28
Corn plantings estimated down 2 million
Dec corn had a 45 cent range Wednesday and Nov beans 37 cents
Weather currently good for bean planting wind up with some rain today and then a heat up, so watch where, how hot and the duration