Market Update - October 31, 2012

Posted on Oct 31, 2012
  CBOT futures are trading moderately higher, improving on the overnight gains.  Not much news to impact markets.  Supportive is concern that soybean planting in South America is being delayed due to wet conditions. Soybean oil futures continue to lag the soybean meal price and thus limit gains in soybean futures.

  Today’s rally makes the c/b/w charts look much better and puts chart support a safe distance away.  January Soybeans have resistance at 15.77.

  Cattle futures are giving up Tuesday’s gains as the cash cattle and beef markets ended the day weaker.

  Lean Hog futures are trading higher but the December contract is within a dollar/cwt of recent highs. 

  USDA will report harvest progress at 4 pm ET.

Corn Dec +13 754; Mar +12 756; Dec’13 +4 641

Bean Nov +17 1551; Mar +17 1528; Nov’13 +13 1344 Meal Dec +8 484; May +7 441   Oil +5 5014

Wheat Dec +16 873; Jly +9 877   KC +10 913; MGE +13 948

LC Dec -32 12587; Feb -15 12965; Jun -32 13007 FC Nov -95 14610; Jan -117 14832; Apr -127 15150

LH Dec +60 7870; Feb +82 8470; Jun +17 10075

Milk Nov +13 2110; Dec +2 2010

Oats +3 391

Rice +2 1478

US$ steady

Dow unch

SP -.1%

NAS -.7%

Tran +.6%

VIX +4.2% 18.56

WTI +140 8708

Brent +57 10965

Gas +7 269

NG +2 371

HO +1

Eth +2 241

Gold +13 1725

Slvr +58 3239

5-yr -.011 0.731% 10yr -.017 1.703% 30yr -.003 2.879%

Tagged Post Topics Include: Economics, Market updates