Market Update - June 17, 2013
Posted on Jun 17, 2013Cattle futures are moderately higher in the upper part of today’s trading range. Futures soared abruptly around 10:40 a.m. CDT but the reason isn’t clear. The JUNE Live Cattle contract tested chart support before the rally. The general opinion is that seasonal pressure on fed cattle prices will continue.
Lean Hog futures are little changed. Pork values soared on Friday, but cash hog prices were mixed. Seasonal strength is still expected by the trade.
U.S. equities are strongly higher on strong economic reports and higher global markets. The FOMC is meeting this week and no changes are expected in U.S. monetary policy.
Corn Jly +12 667; Sep +5 577; Dec +4.5 537.5 (526-538) Bean Jly -1 1515; Sep -6 1337; Nov -9 1289 (1277-1293) Meal Jly +2452; Dec -5 378 Oil +39 4887 Wheat Jly +4 685(674-689); Dec +3 704; JLY14 +3 735 KC +7 718; MGE +3 807 Oats -4 395 Rice -20 1631
LC Jun +85 119.85; Oct +90 12277; Feb +72 12637 FC Aug +87 14427; Oct +47 14887; Jan +105 15077 LH Jly +2 9805; Oct +12 8447; Dec +2 8167 Milk Jun +2 1801; Jly +2 1805
US$ +.2% Dow +1.1% SP +1% NAS +1.1% Tran unch VIX -1.5% 16.90
WTI +.2% Brent unch Gas -.7% NG +2.4% HO unch Eth unch
Gold -.4% Slvr -.9%
5-yr -.02 1.02% 10yr +.01 2.14% 30yr +.01 3.32%
Fusarium head blight hitting Kentucky wheat fields By Don Hershman, UK Extension Plant Pathologist Jun. 13, 2013
• Fusarium head blight leads to yield and grain quality problems but also to mycotoxin deoxynivalenol which affects marketability.
• For grain harvest, turning up the air on the combine and blowing light-weight “scabby” kernels out the back of the combine has reduce deoxynivalenol levels.
http://southeastfarmpress.com/grains/fusarium-head-blight-hitting-kentucky-wheat-fields
KENTUCKY CASH GRAIN BIDS – Click Here
Tagged Post Topics Include: Economics, Market updates
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