Market Update - October 18, 2012

Posted on Oct 18, 2012
  Led by soybean futures, the CBOT is trading higher for the third day in a row.  The strength in soybean exports and fund buying are factors in the strength.

  Live cattle futures are slightly higher.  Gains are limited by a lack of cash trade and the fact the October contract has already gained over $2/cwt this week. Traders are optimistic of stronger cash prices since boxed beef values have been trending higher this week and now are at a 4-month high.  This Friday is the monthly Cattle on Feed Report which is expected to show placements at 85.0% and on-feed October 1st at 97.8% from a year ago, according to Dow Jones News.

   Lean Hog futures are up slightly as the Pork Cutout gradually increases.

Corn Dec +10 755; Mar +9 754; Dec’13 +2 628

Bean Nov +29 1538; Mar +27 1511; Nov’13 +8 1344 Meal Dec +8 463; May +7 425 Oil +83 5186

Wheat Dec +14 870; Jly +12 848 KC +13 907; MGE +9 949

LC Oct +17 12630; Feb +62 13175

FC Oct -7 14687; Nov +5 14932; Jan -22 15050

LH Dec +2 7920; Feb +32 8530; Jun +30 10025

Milk Oct -3 2102; Nov unch 2012

Oats +4 400

Rice +2 1515  

US$ +.2%

Dow steady

SP steady

NAS -.3%

Tran +.7%

VIX -.5% 15.00

WTI -.5%

Brent -.7%

Gas -1.9%

NG +.5%

HO -.3%

Eth +.7%

Gold -.4% Slvr -.6%

5-yr -.013 0.767% 10yr -.012 1.810% 30yr -.016 2.984%

   Ethanol production was 797,000 barrels per day, down slightly from 800,000 bpd the previous week.  Ethanol imports were 122,000 barrels per day, the largest ever imports since weekly data collection began in June 2010. ----------------

CME Group to Acquire Kansas City Board of Trade   October 17, 2012 – CME Group, the world’s leading and most diverse derivatives marketplace, and the Kansas City Board of Trade, the leading futures market for hard red winter (HRW) wheat, today announced they have signed a definitive agreement under which CME Group will acquire the Kansas City Board of Trade (KCBT).

Tagged Post Topics Include: Economics, market update