Market Update - October 10, 2014
Posted on Oct 10, 2014Cattle futures continue to fall sharply following yesterday’s bearish key reversal. This weakness is weighing on Lean Hog futures as well. FOB Plant Pork is steady at midday.
Corn Dec -1 343 (low 336); May -1 365; Dec15 -1 389 Bean Nov +4 946 (low 926); May +4 971; Nov15 +3 967 Meal Dec +5 318; May +2 310 Oil -12 3289 Wheat Dec +13 506 (low 488); Jly +9 529 (low 515) KC +14 587; MGE +11 565 Oats +2 346 Rice -2 1257
LC Oct unch 16415; Dec -140 16447; Apr -257 16382 FC Oct -230 23935; Nov -300 23852; Mar -297 23130 LH Oct -22 10927; Dec -117 9445; Apr -77 9122 Milk Oct -4 2413; Nov -14 2173
U.S. Crop Production
Corn |
October 2014 |
Trade Guess |
Sept USDA |
Yield | 174.2 bu | 174.6 | 171.7 |
Prod’n | 14.475 Billion |
14.51
|
13.925 |
Soybean | |||
Yield | 47.1 bu | 47.6 | 46.6 |
Prod’n | 3.927 Billion |
3.98 | 3.913 |
2014/15 Ending Stocks |
October |
September |
U.S. Corn | 2.081 billion | 2.002 |
World Corn | 190.6 mmt | 189.9 |
U.S. Soybean | 450 million | 475 |
World Soybean | 90.67 mmt | 90.17 |
U.S. Wheat | 654 million | 698 |
World Wheat | 192.59 mmt | 196.38 |
Soybean = 47.0 bu/ac vs 46.0 last month. Production = 82.25 million bushels (down from 83.00 in 2013)
US$ +.3%
Dow +.5% SP +.3% NAS -.5% Tran -.4% VIX -2.8% 18.23
WTI unch Brent unch Gas -.6% NG +.6% HO +.8% Eth +.3% Gold -.2% Slvr -.3%
5-yr -.006 1.564% 10yr -.016 2.311% 30yr -.017 3.046%
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Tagged Post Topics Include: Economics, Market updates
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