Market Update - January 14, 2013

Posted on Jan 14, 2013
CBOT futures are up sharply today in follow-through buying after Friday’s bullish reaction to some of the USDA reports. The bullish data was a lower-than-expected December 1 st Corn stocks and 2012 Winter Wheat Plantings. Looks like the funds may have studied the reports over the weekend and decided to add to their corn and soybean futures long positions, and cut their short wheat positions.

Cattle futures are trading narrowly mixed, stabilizing somewhat after last week’s sell-off from disappointing cash markets. Feeder futures are pressured by the rising CBOT markets.

Lean Hog futures are trading higher after finding some support during last week’s trade.

Corn Mar +16 724; Jly +13 712; Dec +4 581

Wheat Mar +18.5 773; Jly +17 784   KC +20 827; MGE +13 858

Bean Mar +46 1419; Jly +40 1398; Nov +20 1286 Meal Mar +12 416; Oct +4 364 OIL +134 5058

LC Feb -12 13047; Apr +10 13465; Oct -5 13345 FC Jan -47 14940; Apr -17 15320; Aug +47 16065 LH Feb +75 8495; Apr +60 8772; Jly +25 9652

Milk Jan +7 1813; Feb -2 1759

Oats +9 3546

Rice -18 1504 

US$ steady

Dow steady

SP -.2%

NAS -.4%

Tran +.3%

VIX +1.1% 13.51

WTI -.1%

Brent +.3%

Gas +.1%

NG +1.6%

HO +.9%

Eth +1.7%

Gold +.3%

Slvr +1.7%

5-yr -.008 0.773% 10yr -.011 1.856% 30yr -.010 3.041%

Tagged Post Topics Include: Economics, Market updates