Market Update - December 10, 2012

Posted on Dec 10, 2012
  CBOT futures are lower in follow-through to last Friday’s lower prices.  Poor exports are weighing on corn and wheat.  Soybeans have traded wide ranges since opening Sunday night. The overnight gains turned to losses through the morning until the 930 pit open, but prices have recovered some since then.

  USDA will update the supply-demand tables on Tuesday morning.  Usually, US crop production estimates are NOT updated in December.

  Cattle futures are trading mixed with Live Cattle down after the fed markets dropped $2-3/cwt on Friday.  However, Feeder Cattle are modestly higher as the CBOT slides lower.

  Lean Hog futures are trading narrowly mixed in contrast to last week’s mostly downside moves.  Demand remains a concern.

Corn Mar -6.5 731; Jly -6 729; Dec -4.5 633

Bean Jan -5 1467; Jly +.5 1442; Nov +3.5 1332 Meal Jan -1 442; Oct +1.5 378   Oil -22 5092

Wheat Mar -11 850; Jly -9 864   KC -5 904;  MGE -5 929

LC Dec -40 12547; Apr -35 13412; Aug -27 13000

FC Jan +55 14932; Apr +60 15300; Aug +10 15782

LH Dec +30 8260; Feb +35 8382; Jun +2 9822

Milk Dec -2 1849; Jan -4 1803

Oats unch 391

Rice +3 1530

US$ -.05%

Dow +.2%

SP +.1%

NAS +.5%

Tran +.8%

VIX +2% 16.21

WTI +.4%

Brent +.8%

Gas +.7%

NG -3.2%

HO steady

Eth -1%

Gold +.6%

Slvr +.9%

5-yr unch .618% 10yr -.013 1.619% 30yr -.017 2.807%

Tagged Post Topics Include: Economics, Market updates