Home Market Market Watch Seed Consultants Market Watch 12:00 Update with Gary Wilhelmi 11/27/2012

Seed Consultants Market Watch 12:00 Update with Gary Wilhelmi 11/27/2012

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Dow firms slightly on positive consumer confidence at 73.7 up from 73.1 in October, but 90 is considered healthy.

10:13 update

Stock static with Dow unchanged
Feb cattle shying away from $133 resistance and Feb hogs $88
Range bound grains
Gulf beans 1-4 lower despite export rumors
Gulf corn steady to up 2 on diverted export buying from delays in S. America
Dryness in central and southern Brazil may get some relief, no yield cuts as yet

 

Financial
IMF tentatively agrees to Greek bail out program
DAX up .5% and FTSE .4% higher
US stocks called a bit better
Organization of economic cooperation and development sees global growth slipping to 2.9% in 2013 from 3.4%
Higher home prices expected to day
Capital goods up 1.7%
Congress back to haggling over fiscal dilemma
Crude quiet up $.30 at $88.04
Gold steady despite demand easing
Dollar 4 higher at 80.29 watch last weeks high
Nikkei index up .4%
Dow opens down 12

Livestock
Show lists larger in south lower up north
Cash at $130 offered
Boxed beef $.22 higher choice and $.14 select with the spread at $22
Kill light for Monday at 121,000
Pork cutout $.42 higher with loin’s down $2.19 and hams off $4.93
Hog slaughter 433,000 off 2000 from last week
Look beyond holiday features to normal first of the year trade, which will be price conscious

Grain and soybeans
March corn up 5 cents, Jan beans 12 better and March wheat up 4
All market range bound
Dryness prevails with multi year drought threat in play in plains
Wheat condition slips another 1% to 33% g-x versus a 50% five year average
Argentine wetness may divert cares to soybeans but December is not too late top plant
45 day delays in S. American shipping favors US products