Market Update & Soybean Survey - October 15, 2012

Posted on Oct 15, 2012
  CBOT futures are lower on lack of bullish market news and continued technical selling by the spec funds that are long corn and soybean futures. Rains in South America improves odds of a record large soybean crop there.  Corn is being imported into the Southeast United States from South America. The bullish pop from last week’s Crop Report has nearly vanished. Longer term, the world supply-demand balance doesn’t have much room for weather problems, especially in So America and the U.S.

   Live Cattle futures are slightly higher following last Friday’s dip even as fed cattle traded up a dollar/cwt from the previous week.  Futures and cash are in sync.  Feeder futures are up nicely on the drop in feed costs.   

Corn Dec -12 741; Mar -12 740; Dec’13 -9 625

Bean Nov -30 1492; Mar -27 1465; Nov’13 -19.5 1319   Meal Dec -9 456; May -6 417   Oil -90 4977

Wheat Dec -10 847; Jly -9 832   KC -10 880; MGE -5 919

LC Oct +22 12412; Feb +45 12980

FC Oct +107 14417; Nov +97 14520; Jan +82 14697

LH Dec +25 7862; Feb -25 8440

Milk Oct +2 2116; Nov -8 2099

Oats -4 388

Rice +3 1505

US$ +.1%

Dow +.4%

SP +.4%

NAS +.3%

Tran steady

 VIX -2.0% 15.81

WTI -1.4%

Brent unch

Gas -1.3%

NG -4.3%

HO -1%

Eth -1.3%

Gold -1.3%

Slvr -2.5%

5-yr +.005 0.665% 10yr +.014 1.670% 30yr +.019 2.850% 

U.S. Soybean Farmers, Quality Assurance Begins With You     Samples needed for annual soy checkoff-funded soybean survey that demonstrates quality to buyers. Learn more by clicking on: http://www.unitedsoybean.org/media-center/releases/u-s-soybean-farmers-quality-assurance-begins-with-you/

 

Tagged Post Topics Include: Economics, Market updates