Seed Consultants 4/18/2013 Market Closing Comments with Gary Wilhelmi

first_imgFinancialEarnings today just mixed whereas in 1Q 70% were higherDow off 81, NASDAQ 38 lower at 3166 and S&P down 10 at 1541 with support at 1530Reports were lukewarmDAX off .4% at 74.73 with support at 73.50 –74.00WTI crude $88.63 up $1.68Dollar quiet off 14 at 82.56Copper hit 18 month low at 3.19 with support about 2.80Apple continues to sink $390 off $10 with a 12 month high at $ 700LivestockJune cattle $.62 lower at $121.20Cash $125-127Boxed higher but not much help todayCOF FridayJune hogs held above support but finished only 7 cents higherExports of red meats lightGrain and soybeansLong lime of storms along the jet stream course north from Houston to up hereFlooding concerns but the rains are welcome, remember last yearPlantings are behind with Illinois at 1% versus a 12% average, but makes grain unless it doesn’t stopIf all things are normal from here on corn could fall to $4 and soybeans to maybe $9Spring wheat plantings are delayed as winter just won’t give upGlobal wheat is plentiful enough to hold the market at bayWheat exports were good but China may have shot its wadSoybean sales are good for this time of year but S American supplies are loomingCorn sales remain poor as old crop supplies are tightWatch new crop bookings especially if prices declineChinese bird flu is not a plague, but it could become one10:23 updateStocks in reverse off 74 on the Dow, 9 S&P and 23 on NASDAQEarnings are flowing but not all up hill. FinancialDow up 53 in pre opening periodEarnings: were supportive in Verizon, Pepsi, American Express, but the core was soft in Morgan Stanley and Google and Microsoft are coming out this afternoon.DAX up .6%, FTSE .5% higher and Hong Kong off .3%WTI crude $87.99 off $ .18Gold up $12 to $1394 and very cautiousDollar index 82.56 up 9Jobless claims expected at 350,000Philly Fed measure of regional economiesLeading Indicators is not so reliable, as it is an ever evolving combination of statistics.NASDAQ was off 60 yesterday as Apple fell to near $400 off $300 from its highS&P support is at 1530 and then 1474LivestockCattle $125-127Boxed beef up $ .56 on select with expanded beef featuring this weekBeef exports slack at 10,200 tons and pork at 13,300Feeders off $3-6 this weekGrazing on winter grains expected to be off sharplyCOF total estimated at 94%, placements from 92-103% and marketing’s 97%Pork cutout up $1Kills up 4000 on week in cattle and 30,000 hogsThe snows will soon go away but hog movement has been toughGrain and soybeansFlooding has become a factor, but the moisture is welcomeMay 1 is a planting date to watch as regards delays, but rain simply makes grainMore snow in spring wheat country is becoming a planting concernMonday’s wheat condition report will be an interesting measure of freeze damageBean supplies are tight as is corn and crush is downChinese feed demand imperiled by uncertain impact of bird fluSoy meal basis up $4-6Weekly exports 283,000 tons of old wheat and 772,000 of new. 815,000 old corn and 290,000 new, soybeans 319,000 old and 576,000 new with China buying 6745,000 and 420,000. Meal sales were up and soy oil downToo reiterate commodity trading volume and small and scared as it is caught up in gold fever By Hoosier Ag Today – Apr 18, 2013 Facebook Twitter Facebook Twitter SHAREcenter_img SHARE Seed Consultants 4/18/2013 Market Closing Comments with Gary Wilhelmi Home Indiana Agriculture News Seed Consultants 4/18/2013 Market Closing Comments with Gary Wilhelmi Previous articleBrazil’s Sugar Industry Propped up by Government LargesseNext articleTexas Fertilizer Explosion Tragic but Rare Hoosier Ag Todaylast_img read more