10.26 update
S&P up 2 at 1430
Boxed beef movement good but retail demand is slow
Short term top in hogs after $18 rally?
Heavier hog supplies into 2013
Cash hogs steady and maybe firming later in week
Dec corn support $7.40 and 7.20
Corn user demand slack and exports terrible
Soybean yields are better
Rains in Brazil and US plains weekend
Argentina wet
China bought 5 MT of soybeans in August up 18% from last year
Iraq and Algeria buy optional origin wheat but none from US as has been their pattern
Dow call 50 higher on positive retail sales in September up 1.1%
Citi group earnings net out positive
DAX up .8% and FTSE up .5% on merger and acquisition activity
Inventory report today
Chinese prices in line with expectations
Bernanke at odds with IMF economic assessment
Crude oil $91.91 up $.5
Gold down $12 at $1742
Dollar 79.68 up 2
Livestock
Watch cattle show lists
Futures lagging
Cash $125
Beef exports off 10% from last year
Boxed beef flat last week
Kill 628,000 vs. 636,000 a week ago and hogs 2,396,000 41,000 heavier
Pork cutout down $.66 with loin’s off $2.08 and hams $.34 lower
Dec cattle $124-128 and Dec hogs $75-81
Grain and soybeans
Markets continue to grind lower
Negative financial backdrop weighs on all commodities
Corn again retreats after positive government report which means rationing is working
One million tons of S American corn thought to have moved into North Carolina
Argentine corn is $1.39 under US, at the gulf
Wet weekend with 15-20 % of corn to be harvested, but allows for equipment repair and current forecast is clearing
15% of Australia is dry
NOPA crush today and COF Friday
$7.80 support under Dec corn, $14.75 support Nov beans and $8.40 Dec wheat