Seed Consultants 6/17/2013 Market Watch with Gary Wilhelmi

first_img FinancialDow up 105, S&P 12 and NASDAQ 28Crap shooting computer speculation, in regards to the Fed’s continuing stimulus QE program, has set a very uncertain table for this week’s tradeThe likelihood is that no big change will made at this junctureG8 meeting is being consumed by inter government snooping and idle high talk of tradeThe crude, gold and dollar markets were little changedLivestockAugust cattle bounced off support at $118 to close at $119.05 on short coveringSummer red meat demand is normally slowerPork cutout was strong but August hogs could not convert that into positive action closing about steadyLight hog kill, positive margins and shorter supplies firmed porkGrain and soybeansFirmer interior basis levels and a break in Argentine corn movement off farms supported nearby cornDec cone fumbled around just above support at $5.36Nov soybeans traded below support at $12.77, but wiggled a bit higher to close at $12.86Wheat dawdled through the day as harvest moves northExport inspections lacked go powerSoybean crush was 122 m but reaction was timidGood weekend for soybeans with more to come, and rain Wed-Fri in the Midwest which would be just rightSoybeans expected to near 90% planted and condition 65% good to excellentJust mop up time in cornAcreage on 6-28 is not usually a major moverCrop reports not until AugustRight now corn and soybeans look average or above, but much development to go By Hoosier Ag Today – Jun 17, 2013 Facebook Twitter Facebook Twitter Home Market Market Watch Seed Consultants 6/17/2013 Market Watch with Gary Wilhelmi SHARE SHARE Seed Consultants 6/17/2013 Market Watch with Gary Wilhelmi Previous articleWhat’s in the Farm Bill and WhyNext articleIndiana Corn Crop in Good Condition Hoosier Ag Todaylast_img

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