Market Closes - April 15, 2013 - Kentucky Farm Bureau

Market Closes - April 15, 2013

Posted on Apr 15, 2013
Not much mattered regarding grain and livestock fundamentals today as the very bearish action in energy and precious metal futures weighed on commodity and equity prices everywhere. The selling carried over from Friday’s lower closes and accelerated when China reported a disappointing GDP estimate. Once technical support levels were broken in various commodities, the selling accelerated and traders weren’t willing to step in and buy these markets (or catch a “falling knife”). Investors fear that the weakest European countries may be forced to sell their gold reserves.

Today's market action has now taken a backseat to this afternoon’s deadly bombing at the Boston Marathon.

Corn Planting Progress in the 18 major states is 2 pct, compared to 16 pct a year ago and the 5-year average of 7 pct.   Kentucky Corn is 7 pct planted compared to 55 pct last year and a 18 pct 5-year average.

Tonight’s NWS extended outlook shows below normal temperatures and mostly normal precipitation in the Corn Belt. http://www.cpc.ncep.noaa.gov/products/predictions/814day/index.php

Corn May -12 647; Jly -13 628; Dec -18 532 Bean May -18 1395; Jly -23 1356; Nov -25 1207   Meal May -7 393; Oct -6 336.5   Oil -105 4818 Wheat May -21 694; Jly -20 699; Dec -19 719   KC Jly -20 739; MGE -10 789 Oats -12 368 Rice -38 1544

LC Apr -80 12505; Aug -100 12040; Dec -127 12545 FC Apr -132 13660; May -112 13980; Aug -142 14637 LH May -110 8627; Jly -117 8872; Oct -130 7965 Milk Apr +3 1761; May +1 1886

US$ +.2% Dow -266 14599 SP -36 1552 NAS -78 3216 Tran -234 5910   VIX +5.21 17.27 (+43%)

WTI -390 8739 Brent -285 10026 Gas -7 273 NG -10.5 412 HO -7 280 Eth -5 237

Gold -148 1352 (low 1495) Slvr -368 2265

2-yr -.01 0.22% 5-yr -.01 0.68% 10yr -.04 1.68% 30yr -.06 2.86%

KENTUCKY CASH GRAIN BIDS Click Here

Tagged Post Topics Include: Economics, Market updates


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