Home Market Market Watch Seed Consultants Marketwatch 10:25 update with Gary Wilhelmi 11/1/2012

Seed Consultants Marketwatch 10:25 update with Gary Wilhelmi 11/1/2012


10:25 update

Dow up 143, S&P 11 higher and NASDAQ back over 3000 at 3003 up 27
Consumer confidence is highest since February 2008
January soybeans test weeks high
HRW crop rating off 19% from a year ago and SRTW up 14%
Central and southern plains remain on drought list


Storm impaired stock market limps through limited volume session
Dow off 10 at the end
Crude, gold and the dollar strayed little from the center of the dial.
Jobs report still scheduled for Friday
National debt is at $16.16 trillion with the limit at $16.39 trillion but treasury will employ gimmicks to keep the lights on at years end.
The storm clouds remain over Europe so don’t focus too much on our natural disaster

Cattle ease as cash slips $1 in Kansas
Hogs fail to hold best levels and close modestly higher
Pork cutout a bit softer
Choice-select boxed spread is widening
Weekend features remain budget conscious

Grain and soybeans
Corn, wheat and soybeans firm within their trading boundaries
Tight global corn supply highlighted by perhaps a 20% reduction in Argentine plantings
25,000 tons of soy oil to China is routine
300,000 tons of wheat to Egypt from Romania, Russia and France a normal mix
Watch spreads for position rolling
Crop report on the 9th likely just fine tuning
Weekly export sales have been good in soybeans, improving in wheat but terrible in corn