Market Update - January 15, 2014
Posted on Jan 15, 2014Cattle and hog futures are higher on increased optimism for rising cash markets. The rising US equity markets are supportive.
Crude Oil futures (WTI) are up sharply on today’s EIA inventory report showing US oil stocks at a 22-month low of 350.2 million barrels, down 41.2 million barrels since November 22. Gasoline inventories grew a little more than expected.
** see Kentucky’s 2013 production estimates below **
Corn Mar -3 428; Jly -4 442; Dec -4 452 Bean Mar +9 1316; Jly +4 1277; Nov -2 1117 Meal Mar +3 433; Oct -2 349 Oil +22 3832 Wheat Mar -4 575; Jly -5 588 KC -3 629; MGE -1 620 Oats +2 392 Rice +5 1555
LC Feb +95 13860; Jun +62 13092 FC Jan +90 16950; Apr +97 16895 LH Feb +70 8670; Apr +100 9167 Milk Jan unch 2072; Feb -13 2088
US$ +.4%
Dow +.7% SP +.5% NAS +.6% Tran +.2% VIX -1.3% 12.12
WTI +1.9% Brent +.7% Gas +.4% NG +1% HO +1.7% Eth +.6%
Gold -.5% Slvr -.5%
5-yr +.03 1.68% 10yr +.03 2.90% 30yr +.02 3.83%
Last Friday’s USDA reports included this data for Kentucky.
2013 Wheat Seedings 600,000 acres, down from 700,000 in 2012.
2013 Final Crop Production Corn Yield = 170.0 bushels/acre, up from 68.0 in 2012 and 139.0 in 2011. Prod’n = 243.1 million bushels, up from 104.0 in 2012 and 180.7 in 2011.
Corn Silage 2013: 80,000 acres yielded 21.0 tons/acre to produce 1.68 million tons. 2012: 90,000 acres yielded 12.5 tons/acre to produce 1.12 million tons.
Soybean Yield = 49.5 bu/ac, up from 40.0 in 2012 and 39.0 in 2011. Prod’n = 81.2 million bushels, up from 58.8 in 2012 and 57.7 in 2011.
All HAY Yield = 2.28 ton/acre, up from 2.07 in 2012 and down from 2.31 in 2011. Prod’n = 5.94 million tons, up from 4.92 million in 2012 and 5.33 million in 2011.
HAY STOCKS – December 1 2013 – 4.20 million tons 2012 – 3.40 million tons
BURLEY 2013: 74,000 acres yielded 2,000 pounds/acre to produce 148.0 million pounds. 2012: 74,000 acres yielded 2,050 pounds/acre to produce 151.7 million pounds. 2011: 64,000 acres yielded 2,000 pounds/acre to produce 128.0 million pounds.
FIRE-Cured 2013: 9,000 acres with 3100 lbs/ac, producing 27.9 million pounds. 2012: 9,000 acres with 3500 lbs/ac, producing 31.5 million pounds. 2011: 9,100 acres with 3400 lbs/ac, producing 30.9 million pounds.
DARK Air-cured 2013: 4,200 acres; 2700 lbs/ac; 11.3 million pounds. 2012: 4,200 acres; 3000 lbs/ac; 12.6 million pounds. 2011: 4,400 acres; 3000 lbs/ac; 13.2 million pounds.
KENTUCKY CASH GRAIN BIDS – Click Here
Tagged Post Topics Include: Economics, Market updates
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