Home Market Market Watch Seed Consultants Market Outlook 7/19/12

Seed Consultants Market Outlook 7/19/12


7-19-12    AM Comments



USstocks called .4% higher

Crude back over $90 at $91.18

DAX up 1.3 %

FTSE up .3%

Spanish bonds a hard sell at 7% +

Dollar down 23 at 82.84

Gold up $18 at $1588

Morgan Stanley, Viacom and Nokia earnings today

77% of earnings have exceeded estimates

Bullish perception is that Fed will be induced to stimulate but previous efforts have fallen flat

Jobless claims expected at 365,000

Existing home sales seen at 4.65 million

Watch cooper as commodity measure of stimulus reality



Feeders have fallen from $160 to $130 and live $130 to $113

Short covering brought meats up off of lows

Japan’s easing of beef import standards helps cattle but quantity is small

Choice/select spread narrows to $11

Cattle producers are losing about $240 per head and liquidating numbers

Pork cutout up $ 3.8 with loins plus $1.05, hams up $ .20 and bellies steady

Slaughter a little smaller than a week ago in both


Grain and soybeans

Nov. beans well over $16, Sept wheat tops $9.00 and Dec. corn near $8.00 at $7.86 over night

Rains in northernCorn Beltover night but too little too late in many corn growing areas

Temps back up to 90 today inChicago

Following the rains we will get a test of volatility

Corn carry headed for 1 billion bushel or less and beans well under 100 million

Talk of Chinese corn cancellations unconfirmed but they do cancel and replace routinely

Wheat worries zones inAustralia,ArgentinaandBlack Searegion

Weekly export sales not expected to be dramatic

Wheat good but corn and beans poor