Market Update - April 16, 2013

Posted on Apr 16, 2013
Today’s price action in commodities, equities and Treasuries is primarily a correction to Monday’s severe losses. CBOT strength continues to be focused in the nearest contracts indicating the risk of tight old-crop supplies. Corn planting is off to a slow start and the forecast is cooler than normal through month’s end. This also threatens spring wheat planting.

Cattle futures are trading higher without support from improving boxed beef values or cash cattle prices.

U.S. equities are supported by several strong earnings reports and a better-than-expected March housing report (highest since 2008). The Consumer Price Index dropped 0.2 percent in March, compared to expectations of unchanged.

Corn May +10 657; Jly +7 635; Dec +4 536 Bean May +13 1408; Jly +12 1368; Nov +6 1213 Meal May +7 400; Oct +2 338   Oil +36 4854 Wheat May +6 700; Jly +4 703.5; Dec +3 722   KC Jly +6 745; MGE +8 797 Oats +5 366 Rice +12 1556

LC Apr +60 12565; Jun +62 12045; Oct +30 12437 FC Apr +32 13692; May +35 14015; Aug +20 14657 LH May +57 8685; Jly +65 8937; Oct +17 7982 Milk Apr +2 1763; May +9 1895 

US$ -.3% Dow +.7% SP +.9% NAS +.9% Tran +1.5%   VIX -16% 14.49

WTI -.7% Brent -2.6% Gas -.2% NG -.7% HO -1.7% Eth +.5%

Gold +2%  1388 Slvr +1.2% 2368

5-yr +.02 0.70% 10yr +.03 1.71% 30yr +.04 2.90%  

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Tagged Post Topics Include: Economics, Market updates