Market Update 7-16-12 9:23am CDT
Citi earnings at $1 per share just over $ .95 estimate with net income down 12%
June retail sales poor at -.5%
Dow off 88
Tech stocks decline
$120 Oct cattle support
Heat induced liquidation
Pork movement OK but cash called easier
Pivot point s Dec Corn $7.70, $15.90 and Sept. Wheat $8.75
June crush 134.2 versus 132.8
Sept wheat at $1 premium to Sept. Corn as global losses divert sales to US