Market Update - July 2, 2013

Posted on Jul 2, 2013
The fireworks are in the JULY CORN contract as it rebounds sharply from Monday’s 24-cent loss. Price action in the expiring (on July 12) JULY CBOT contracts is often a function of who still has long or short positions in the JULY and which segment (longs or shorts) are in a stronger situation.

Other CBOT futures contracts are little changed at this hour although prices have traded both sides of unchanged.

Cattle futures are down slightly after posting daily gains on Monday.  Cash markets may struggle through the July 4th holiday period.  Hopefully, the grills are very busy this week(end).

Deferred Lean Hog futures are down modestly on ideas cheaper corn will result in more pork this fall.

Corn Jly +13 668 (651-678); Sep -4 527; Dec -2 499

Bean Jly +3 1574; Aug -1 1435; Nov -2 1241 Meal Jly +3 488; Aug +2 434; Dec unch 366 Oil -25 4660

Wheat Jly +4 650; Sep +3 658; Jly’14 +1 701 KC unch 677;  MGE -20 758

Oats -3 392

Rice -10 1565

LC Aug -32 12185; Oct -47 12565; Feb -40 12880 FC Aug -30 15092; Oct -27 15457; Jan -12 15645 LH Jly -5 10102; Oct -60 8520; Dec -65 8185 Milk Jly -12 1725; Aug -8 1825

US$+.4%

Dow +.3%

SP +.3%

NAS +.3%

Tran +.1%

VIX -2% 16.05

WTI +1%

Brent +.5%

Gas +1.1%

NG +1.7%

HO +.6%

Eth -.6%

Gold -.5% Slvr -.8%

5-yr unch 1.38% 10yr unch 2.48% 30yr -.02 3.47% Corn crop off to a late, but good start        University of KY Ag News – July 2, 2013 http://news.ca.uky.edu/article/corn-crop-late-good-start

 

No Livestock Sales at Blue Grass Stockyards this week.

KENTUCKY CASH GRAIN BIDS Click Here

Tagged Post Topics Include: Economics, Market updates