Seed Consultants 5/3/2013 Weekly Market Update with Gary Wilhelmi

first_imgHome Indiana Agriculture News Seed Consultants 5/3/2013 Weekly Market Update with Gary Wilhelmi Seed Consultants 5/3/2013 Weekly Market Update with Gary Wilhelmi 10:09 updateStocks hold opening gainsDollar pulls back to 13 point loss 40 under the highMeats stuck at highs on exceedingly light volumeGrains off some and beans higher, but trade hardly worth openingSnow sets back spring plantings moreGulf soybeans steadyThere is still time to plant cornForecasts at oddsFinancial165,000 new jobs generated in April and last two months were adjusted higher.Unemployment down to 7.5%And away we go again to new highs at 14,971 up 141 on the Down, S&P 16 higher at 1613 and NASDAQ 3375 up 35.Labor force, however, is at a 35 year low.ISM non manufacturing expected to decline 2.9%China 54.8 versus 55.6 in MarchUK service sector 57.9 from 57.4EC GDP projected at .4% versus last at .3%WTI crude up $1.57 to $95.56Gold steady at $1467Dollar continues rise up 24 to 82.46DAX up 1.4%LivestockCattle up $3 to $128 Texas and $131 NebraskaBoxed beef nears 2003 record of $201.31Feeder cattle had steady weekCool wet cook out weekendSnow in parts of Iowa and Minnesota slow hog movement for a dayKills off 1000 cattle and up 10,000 hogs for week thus farPork cutout down $ .39 with loins up $3.21, while hams advanced $3.21 and bellies were up $ .64Cash hog call $1Grain and soybeansNight trade just a tad better at $6.63 on July corn, $13.78 July beans and $7.33 July wheatCash corn firm and delays extend into mid next weekChina cancelled 276,000 tons of old crop beans yesterday, but that is just a normal adjustment, they also bought 1.1 MT of new beansArgentine soybeans are bound for China not USSE Kansas wheat is better than expectedCanadian crop estimate updates todayPositive financial input, but dollar continues to rise limiting exports SHARE Facebook Twitter By Hoosier Ag Today – May 3, 2013 SHARE Facebook Twitter Previous articleSnow in the West and Indiana Rains Cause More DelaysNext articleSeed Consultants 5/3/2013 Weekly Market Column with Gary Wilhelmi Hoosier Ag Todaylast_img read more