7-2-12 AM Comments sponsored by Seed Consltants
Financial
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
Livestock
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
