Market Update - April 19, 2013

Posted on Apr 19, 2013
CBOT futures are trading mixed with prices generally correcting Thursday’s moves. There’s little new in fundamentals to move the market. The rising flood waters on the Illinois River and Upper Mississippi River may impact barge shipments and thus cash basis levels there. Strong cash demand for soybean meal is keeping meal futures supported relative to soybean oil and limiting losses in soybean futures.

The weaker KC Wheat futures market would suggest traders aren’t worried this morning’s freezing temperatures damaged TX/OK/KS wheat.

Live cattle futures are little changed ahead of this afternoon’s Cattle on Feed report. The cash feedlot trade and boxed beef market have not provided support this week.

Corn May +6 650; Jly +3.5 633; Dec +3 544 Bean May -6 1425; Jly -8.5 1381.5; Nov -10 1213   Meal May -1 410; Oct -.5 340   Oil -53 4913 Wheat May +4 707; Jly +2 709; Dec +2.5 730   KC Jly -1 748; MGE +5.5 808 Oats +1 380 Rice -3 1534

LC Apr unch 12620; Jun -10 12127; Oct -20 12535 FC Apr -37 13407; May -85 13920; Aug -107 14610 LH May -25 8770; Jly -47 9032; Oct -35 8075 Milk Apr -3 1762; May -4 1923 

US$ unch Dow Steady SP +.8% NAS +1.3% Tran +1.6%   VIX -13.4% 15.20

WTI +.3% Brent +.4% Gas +.6% NG -.2% HO +.3% Eth +.5%

Gold +.5% Slvr -.3%

5-yr +.01 0.71% 10yr +.02 1.70% 30yr +.02 2.88%

TOBACCO SETTLEMENT MONEY RECEIVED BY STATE OF KENTUCKY    Kentucky, as required under the 1998 Master Settlement Agreement(MSA), received its annual payment of more than $101 million in tobacco settlement money this week. Kentucky's share of the settlement is approximately $3.45 billion over the first 25 years. This year marks the 15th full year since the signing of the landmark MSA. Cigarette sales nationally are down more than 30% since the agreement went into effect.

 The total received by Kentucky since the initial MSA payment in 1999 is $1.5 billion for "Phase I" and $600 million under "Phase II," the Tobacco Growers Trust Agreement, which was created as a result of an MSA provision to address affected tobacco-growing communities in 14 states. (SOURCE: KY Attorney General’s office)

KENTUCKY CASH GRAIN BIDS Click Here

Tagged Post Topics Include: Economics, Market updates