Market Closes - May 20, 2013

Posted on May 20, 2013
Corn Planting for the 18-States came in at 71%, at the high end of trade expectations.  Planting is now only 8 points behind the 5-year average. Kentucky planting advancement was much slower than the Corn Belt this past week.  KY at 56 pct is now the second slowest state.

Corn Emergence for 18-States is 19 pct, compared to 73 pct a year ago and 46 pct on average.

Soybeans Planted in the 18-States is estimated at 24 pct, down from 71 pct a year ago and 42 pct on average. Kentucky at 6 pct complete is the slowest state of the 18 states.  But this is no surprise given that over the past 5 years, KY’s average planting rate of 24 pct is the slowest average.

48-State Pasture Conditions improved this week slightly. Good/Excellent = 38 pct, up from 34 pct last week (51 pct in 2012) Poor/V.Poor = 30 pct, down from 33 pct last week. (19 pct in 2012).

http://www.usda.gov/nass/PUBS/TODAYRPT/prog2113.pdf

Grain and livestock futures closed better than the prices traded midday.  A huge turnaround in gold and silver futures and stronger energy futures may have helped CBOT and CME futures rally. The U.S. dollar was also weaker.

Corn Jly -3 649.5; Sep -1.5 554.5; Dec +1 520 Bean Jly +16 1464.5; Sep +5 1294; Nov -3 1225 Meal Jly +10 435; Oct unch 348.5 Oil -32 4920 Wheat Jly +2 685; Sep +2 693; Dec +1 708.5 KC +8 745;  MGE +7.5 811 Oats -12 363 Rice -6 1517

LC Jun +72 12012; Oct +50 12247; Dec +37 12390 FC May -137 13252; Aug +110 14447; Oct +95 14875 LH Jun +55 9207; Aug +20 9035; Oct +77 8107 Milk May -1 1851; Jun -6 1830

US$ -.5% Dow -19 15335 SP -1 1666 NAS -3 3496 Tran -38 6511 VIX +.57 13.02

WTI +68 9670 Brent +11 10475 Gas -.4 290 NG +4 409 HO +1.4 295 Eth -1 266

Gold +27 1392 Slvr +51 2286

2-yr unch 0.24% 5-yr unch 0.83% 10yr +.01 1.96% 30yr +.01 3.17%

KENTUCKY CROP PROGRESS AND CONDITIONS – USDA NASS

http://www.nass.usda.gov/Statistics_by_State/Kentucky/Publications/Crop_Progress_&_Condition/index.asp

KENTUCKY CASH GRAIN BIDS Click Here

 

Tagged Post Topics Include: Economics, Market updates