Market update and rain map from Isaac - August 28, 2012

Posted on Aug 28, 2012
Corn Sep +1 796; Dec unch 801; May unch 795

Bean Sep +11 1740; Nov +10 1729; May +6 1548

Meal +3.7 535.5

Oil -4 5587

Wheat Sep +4 866; Dec +6 887; Jly +5 854

KC +3 876; MGE +5 918

LC Aug +62 11902; Dec +2 12727

FC Aug +2 14030; Oct +42 14435; Jan +32 14865

LH Oct +10 7335; Dec -7 7097

Milk Aug unch 1772; Sep -9 1899

Oats -4 375

Rice +5 1536

 

CBOT futures are trading mixed with relatively small changes.  Prices have traded on both sides of unchanged during this session.  Soybean futures are stronger as more export sales were made to China.

Outside markets are generally supportive with the US dollar weaker and crude oil higher.

Cattle and hog futures are also showing minimal price changes given a lack of news or reason to be bullish ahead of the 3-day weekend.

Consumer Confidence for August came in at a 9-month low today.  It dropped to 60.6 from 65.4 in July. Economists expected a 66.0 reading.  Inflation expectations also increased.

Investors remain focused on what Fed Chairman Bernanke will say on Friday at the Jackson Hole meeting.  European Central Bank President Draghi is not attending the meeting now.

 

US$ -.4%

Dow +.1%

SP +.2%

NAS +.2%

Tran steady

VIX -1.2% 16.15

Wti +.5%

Brent -.1%

Gas -1.7%

NG steady

HO -.2%

Eth steady

Gold -.1%

Slvr -.7%

5-yr -.015 0.671%

10yr -.024 1.628%

30yr -.021 2.740%

Issac's rain path shown below:

Tagged Post Topics Include: Economics, Isaac, Market updates