Market Update - September 10, 2012

Posted on Sep 10, 2012
  Throughout the commodity and equity markets this morning, price changes are mostly minimal (cotton, coffee and OJ are big movers).

  CBOT grain and oilseed futures are trading mixed on little market news.  Traders are getting ready for Wednesday morning’s USDA CROP and the WASDE update. Average corn and soybean yields should be lower than what USDA quoted in August.

  Cattle futures are slightly weaker today.  Live Cattle futures are up near chart resistance, so some profit-taking is expected.  Last week, fed cattle prices improved $1-2/cwt in Kansas.  However, boxed beef values weakened at the end of the week.

  Given last Friday’s disappointing U.S. jobs report, most investors believe the Federal Reserve will vote to announce some type of quantitative easing after this week’s meeting. The QE3 would be the third major round of the Fed’s attempt to stimulate the economy through low interest rates and increasing the money supply.

  As always, news from Europe and China can impact our markets at any time.

 Corn Dec unch 799; Mar -1 802; Jly -1 785

Bean Nov +1 1737; Mar -4 1677; Jly -5 1565

  Meal -1 526    Oil +28 5652

Wheat Dec +1 886; Jly +3.5 872    KC -1 922;  MGE -6 952

LC Oct -22 12625; Feb -35 13232

FC Sep +7 14437; Nov -25 14742; Mar -20 15200

LH Oct +97 7232; Feb -20 7780

Milk Sep -6 1879; Oct -32 1913

Oats -1 389

Rice -13 1482

 US$ +.15%

Dow unch

SP unch

NAS -.4%

Tran +.6%

 VIX -1% 14.24

Wti unch

Brent +.5%

Gas +.6%

NG +1.6%

HO +.4%

Eth unch

Gold -.4%

Slvr +.5%

5-yr +.005 0.649%

10yr +.012 1.680%

30yr +.019 2.840%

Tagged Post Topics Include: Economics, Market updates