Market Update - October 2, 2013

Posted on Oct 2, 2013
CBOT futures are steady to higher.  Corn futures have stabilized after dropping from the bearish Grain Stocks report on Monday.  Soybean futures are higher on strength in the soybean meal futures market with gains limited from bearish soybean oil trade. However, soybean futures are down about 40 cents from pre-Grain Stocks Report levels.

Wheat futures are a bright spot in the market with the KC and MGE moving to new highs for this move.  Export demand is supportive. There’s also support from Monday’s friendly wheat stocks report and indications that the funds are covering their short futures positions.

Cattle futures are little changed.  The partial U.S. government shutdown has stopped most PUBLIC cash market reporting for livestock and meat cuts.  Lean Hog futures are higher on ideas that pork values are stronger.

Corn Dec -1 438; Jly -1 465

Bean Nov +8 1276; Jly +5 1234

Meal Oct +8 417; Jly +5 386

Oil -67 3934

Wheat Dec +7 688; Jly +5 681

KC +11 756; MGE +9 746

Oats -1 314

Rice +4 1502

LC Oct +10 12735; Feb +7 13357

FC Oct +15 16455; Jan +32 16552

LH Oct +57 9150; Feb +62 8887

Milk Oct +5 1818; Nov +7 1800

US$ -.4%

Dow -.7%

SP -.6%

NAS -.4%

Tran -.9%

VIX +6.4% 16.54

WTI +1.6%

Brent +1%

Gas +.5%

NG -.5%

HO +1.1%

Eth -3%

Gold +2.4%

Slvr +2.9%

5-yr -.06 1.38%

10yr -.05 2.60%

30yr -.04 3.68% 

KENTUCKY CASH GRAIN BIDS Click Here 

Tagged Post Topics Include: Economics, Market updates