Market Update - November 5, 2012

Posted on Nov 5, 2012
  CBOT futures are trading mixed today. Soybean futures are trading down on fund liquidation as South American weather looks a bit better.  Last week’s CFTC report shows funds reducing their commodity positions.

  December Corn has support at $7.32 and January Soybeans at $14.84, the October low.

  Wheat futures are the best CBOT performer as concerns linger about global supplies if weather doesn’t improve.  Watch this afternoon’s U.S. wheat condition report; last week showed a disappointing 40% in the good to excellent category.

  Traders will be positioning for Friday’s crop production report and the WASDE updates.

  Cattle and hog futures are slightly lower on a lack of friendly demand news.  The power outages in the Northeast continue to hurt demand.   

Corn Dec unch 740; Mar -1 742; Dec’13 -3 633.5

Bean Jan -12 1515; Mar -10 1494; Nov’13 +1 1338 Meal Dec -3 473; May -2.5 437 Oil -35 4891

Wheat Dec +8 873; Jly +.5 875 KC +7 916; MGE +5 945

LC Dec +5 12547; Apr -20 13317

FC Nov +5 14495; Jan -17 14650; Apr -40 15037

LH Dec -22 7752; Feb -32 8357;

Milk Nov -4 2116; Dec +9 2049

Oats -5 362

Rice +5 1506

 US$ +.25%

Dow -.1%

SP -.1%

NAS +.2%

Tran steady

VIX +.4.7% 18.41

WTI +.2%

Brent +.1%

Gas +.4%

NG -.2%

HO +.3%

Eth -.2%

Gold +.4%

Slvr +.4%

5-yr -.030 0.691% 10yr -.040 1.677% 30yr -.040 2.866%

Tagged Post Topics Include: Economics, market udpates