Home Market Market Watch Seed Consultants Market Oulook with Gary Wilhelmi 9/10/12

Seed Consultants Market Oulook with Gary Wilhelmi 9/10/12

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-10-12    AM  Comments

 

Financial

The equity markets are expressing the hopes of a new stimulus plan and also the fear that it will not be effective

Dow off 23 and DAX steady

FOMC meeting this week will outline the strategy

Last Friday’s employment report was poor with just 96,000 jobs added, 41,000 taken off of last months estimate and unemployment at 8.1% down from 8.3%, but expressing the fact that more people are just giving up looking for work.

The equities are on their seasonal highs so any disappointment could send them tumbling

The mostly impersonal computer driven tirade tends to feed off its orders, so new highs could occur, but to sustain we need evidence of real improvement.

Weekend Chinese data negative with import demand off 2.8% versus a rise of 3.5% and August industrials production slowed to plus 8.9%.

Equities called lower on Chinese reports

Fed rates stuck at zero into 2015

Crude oil $96.32 off $.10

Gold $1730 down $5

Dollar hovers at 80.31 down 16 after sharp fall Friday

 

Livestock

Southern cattle stuck with bids at $124 and offers at $126

Northern cattle traded some at $192 up $2

Boxed beef flat to lower Friday

Short kill week

Pork cutout down $.34, with loins off $2.34 and hams up $.31

 

Grain and soybeans

Markets flat coming into open

Crop report Wednesday with wide spread of estimates in corn from 9.8 b to 10.3 b and soybeans 2.52 b to 2.6 b.

Corn yields of less than 120 bpa seen by some and soybeans around 35 bpa

Fall like, summer like and some rain this week or OK

We are coming into the reports near the highs so beware

This will not be the final answer as it will take months to figure out real production and quality

A small uptick in wheat trade and we may do better into fall as black sea supplies dwindle.

Financial markets remain a haunting presence