Home Market Market Watch Seed Consultants Market Watch 1-9-13 Evening Comment with Gary Wilhelmi

Seed Consultants Market Watch 1-9-13 Evening Comment with Gary Wilhelmi

SHARE

Financial
Markets are as aimless as our leadership in Washington, up and down Pennsylvania Avenue.
Earnings season is a collection of thousands of reports so don’t get trigger happy, no matter what the hype
Dow up 53, S&P 3 higher and NASDAQ 12 better

Livestock
Feb cattle sold off $.70 backing away from resistance
Feb hogs dropped $1.60 and are again down near the low
Cattle show lists are larger but demand remains questionable
Cash hogs were steady to $1 lower
Oct hogs were at their lowest point since late September
Hog weights were one half of a pound above last week and one and one and one half below a year ago
Variety pack in weekend features all with budgetary cuts

Grain and soybeans
Narrowly mixed markets
Positioning for Friday’s report minor, as was volume
Technical signals tell us the markets are over sold
Corn stocks guess 8.2 b and crop 10.7 b
Soybean stocks 2.37 b and crop at 2.93 b
Winter seeding of wheat is expected to be higher but Kansas crop condition is well below average at 24% g-x
Rains help Texas wheat
Mississippi river has gotten no moisture relief
Low water impairs exports
Dollar firms, but no matter as it remains in range with resistance at 82
Weekly export sales Thursday and watch soybeans total and to China as they have turned to S America as the Brazilian harvest begins
Weak Gulf bids do not argue well for exports

 

10:02 update Just a penny or two variations in wheat, corn and soybeans Brazilian sugar cane production 580-590 MT up from 536 MT is ethanol component Palm oil up off of two week low Stocks quietly up and wary on Washington inaction Feb hogs down $1.05