12:55 update
Dow slips toward 12,500 support and S&P 1314 with support at 1300
CAT sales falter inAsia, JP Morgan off again as another $1 b is missing and Home Depot stock is lower
DAX index closed down 1.2 % and that is a bad omen for tomorrow’s trade
G10 and NATO meetings this weekend usually just talk
Crude dips to the downside at $92.37 near support
Global economic woes are reflected in falling oil prices
Dollar high at 81.68 with January high at 81.78, the buck is up for fourteen straight days
Dow down for five days
11:27 update
Dow holds down 32
Gold bugs reemerge up $35 at $1571
Crude falters a bit up just $.25 at $93.05
Boundaries in July corn $6.00- 6.30, July beans $14.00-14.60 and July wheat $6.00 -6.60
In the meats: June cattle $115-121 and June hogs $84-89
Volume light in grains and meats
10:41 update
Dow falls off 50 points after soft Philly Fed Mid-Atlantic states manufacturing report
Pork margins back in red as cash firms and cutout recedes
Volume of trade at 122 loads in pork was positive
Add Aussie dryness to world wheat watch
480,000 beans to China for 12/13
100,000 tons of US wheat to Iraq
Japan has covered one third of its July-September corn needs
Financial
Dow off 26
DAX down .4%
Dollar up again by 10 to 81.47 with an 81.78 yearly high
Gold up $15 at $1553
Crude oil bounces $.81 to $93.62 with support ay $92
Spanish bind auction goes well but costs rise to 4.37% from 2.9 in April
LEI expected up .2%
Philly fed industrial survey expected at 10 up from 8.5
J.P. Morgan missing another $1 b as expected
Livestock
Packers may wait out COF to price cattle on feed projected at 100.3%, placements 88% and marketing 98.4%
Cash offers at $123-25
Boxed beef down $.63 on choice and $1.98 select
Dollar near high curbs all exports
Pork cutout off $.31 with ribs leading feature for weekend
Kill up 7000 for week in cattle and down 11,000 hogs
Beef export 14,400 off 31% from last week
Grain and soybeans
Short covering from funds rallied the grains
July wheat at $6.40 resistance at night close
Dry W Plains
Ukraine and Kazakhstan conditions worsening
Weekly exports: wheat 322,000 tons for 11/12 and 389,000 12/13, corn 339,000 11/12 and 525,000 12/13 and beans 616,000 (China 119,000) and just 57,000 12/13