Home Market Market Watch Seed Consultants Market Outlook 7/2/12 with Gary Wilhelmi

Seed Consultants Market Outlook 7/2/12 with Gary Wilhelmi


7-2-12    AM  Comments sponsored by Seed Consltants



Lackluster open with Dow up 18 points

EU status remain in doubt

China PMI at 2 year low

May construction expected to .2% higher

ISM manufacturing expected to soften

Employment on Friday

Crude $83.44 off $1.51

Gold $1593 down $4

Dollar index 81.52 up 19

Washingtoncontinues to muddled post Supreme Court Health ruling



Cash cattle at a standstill

No plants closures reported, No retail alteration

Boxed beef lost $2 last week

Extreme heat curbs appetites

Pork cutout down $ .72 with loins off $2.20 and hams off $.14

Cattle kill 653,000 up 4000 and hogs jump 50,000 to 1,999,000


Grains and soybeans

Triple digit dominate and toasty conditions to continue

Corn and soybeans up over twenty cents coming into Monday’s trade with wheat 13 better

Outside markets not leading at this time

December corn resistance is at $6.73 ½ and November beans have surpassed the $14.43 ¼

It the cares it’s the results off those plantings and it’s historically tough

Private corn yields down to 153.5 per

Beans could drop to 42 million which would make carryover about 92 million and the USDA has not liked to report less than a 100 million carryout

ChicagoJune rainfall at an 84 year low

Thousands of new record highs reported

New all time high for wheat inParis

Russ,UkraineandKazakhstangrain 70MT form 81 MT a month ago