Seed Consultants Marketwatch 10:28 update with Gary Wilhelmi 11/8/2012

first_img Facebook Twitter SHARE Seed Consultants Marketwatch 10:28 update with Gary Wilhelmi 11/8/2012 SHARE Home Market Market Watch Seed Consultants Marketwatch 10:28 update with Gary Wilhelmi 11/8/2012 Previous articleEthanol Industry Groups Congratulate ObamaNext articleUSDA Scientists Develop Sprayer Apps Hoosier Ag Todaycenter_img FinancialMild bounce expected after 312 point loss on DowDow under 13,000 support and S&P below 1400Our inability to govern and manage fiscal policy, a deepening recession in Europe, uncontrollable debt and a US AAA credit rating threat apply the pressureJobless claims down 8000 to 355,000 means littleGreece passes added austerity measures but still faces many hurdles in securing bail out fundsUnemployment in Greece tops 25%ECB leaves rates unchangedDollar up 14 to 80.90 but government policies direct the currency lowerCrude oil up $.79 to $85.23 ultra volatileGold $1718 after testing $1700China leaders meet to set new ten year course and must address corruption issuesLivestock4-12” of snow come to the northeast on top of remaining problems from SandyCash cattle are bid at $124 and offered at $129Boxed beef about steady after falling to $194 from $201Beef exports 19.400 28% above the four week averageCattle slaughter is up 3000 for the week and hogs 25,000 higherPork cutout up $.67 with loin’s $2.11 better and hams steady, it has been a wide swinging weekA large weather hole has been injected into the meat and retail store markets in the northeastGrain and soybeansMinimal changes in over night tradeCrop report tomorrow morning is expected to show bean yields a bit better and corn not much changedThe lower dollar trend can depress the dollar and raise commodity valuesFarm bill is all talk at this point, with so many bigger fish to fry regarding fiscal policyDrought pattern is still in force in western regionWinter wheat rating 39% good to excellent is down from 54% five year averagesDec wheat is a few cents below $9.00 resistanceCorn export sales poor again at 157,000 tons as was wheat at 209,000 and soybeans fell to 186,000.Jan beans support at $14.80-90Dec corn held at $7.32 support Facebook Twitter By Hoosier Ag Today – Nov 8, 2012 10:28 updateLand values in jeopardy of declineDollar trend down but higher again today at 80.90Corn surplus may rise by about 16 millionSoybeans production perhaps by 31 millionBoth insignificant152,000 of routine corn sales to JapanGlobal wheat 661 MT off 3 MTNorthern Brazil weather favorablelast_img

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