Home Market Market Watch Seed Consultants Market Review 9/10/12 with Gary Wilehlmi

Seed Consultants Market Review 9/10/12 with Gary Wilehlmi

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9-10-12    PM  Comments

 

Financial

Light volume continues at the NYSE off 40% in last month

FOMC meeting 12-13th with expectation of fresh decision on new stimulus

Weak employment report Friday argued for Fed action

German court ruling Wednesday on leadership economic policy

All markets stocks, metals, currencies and crude stayed close to home Monday

Chinese import report bearish off 2.8%

Baltic freight index remains weak and that’s a key measure of demand

 

Livestock

Cash cattle zero inTexaslast week

Northern cattle up $2-3

Boxed beef in seasonal demand period, but consumer resistance is a major offset

Huge pork supplies also pressure beef interest

Lean hog index has fallen $3.30 since last Thursday

Short covering has lifted hogs over 200 points off lows

Cattle dawdled at $.67 lower on October

 

Grain and soybeans

Wheat, corn and soybeans set back heading into Wednesday AM crop report

Average guesses for the report are 1.4 b corn and 2.6 b beans

Yields sub 120 bpa in corn and 35.7 bpa in soybeans

There is a long way to go to find the truth about the quantity and quality of corn production

Wheat carryover is expected at 709 m, not much changed

Watch dryness in northernBrazilandAustralia

Weekly export inspections were soft in wheat, corn and beans

Chinese soybean imports were off 2% for the year in August and 25% smaller from July, on prices

Ideal harvest weather will turn hotter but looks dry

Corn harvest at 15% versus a 5% average and soybeans just beginning at 4% versus 2%