Home Indiana Agriculture News Seed Consultants 6/3/2013 Market Update with Gary Wilhelmi

Seed Consultants 6/3/2013 Market Update with Gary Wilhelmi

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Financial
Dow opens up 37 after late, end of the month belly flop, off 208 Friday
Global data positive in manufacturing
DAX steady
May US PMI up to 52.3
WTI crude $92.49 up $ .52
Local gas $4.15
Gold steady at $1393
Dollar in range at 83.27 minus 12
Employment on Friday

Livestock
$124 trade southern cattle
Boxed beef off $2
Kill 594,000 for short week
Pork cutout down $ .72
August cattle up $1.40 early to $120.40
July hogs $94.07 up $ .37

Grain and soybeans
Nov bean challenge resistance at $13.25 after wet weekend
Little advance in plantings expected in corn or soybeans
Mixed week with not much rain and slightly cooler temperatures
Funds ad 44,000 corn longs and 24,000 beans with wheat shorts off 4200 contracts
Exports just fair
Dollar in range with little impact
Oregon GMO wheat issue working with Japan and S Korea –watch Australian wheat, as they are our main competition in western pacific markets



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