Gary Wilhelmi 5/4/2012 Update 2

first_img Gary Wilhelmi 5/4/2012 Update 2 10:52 updateLight volume in all marketsDow off 120 pointsCrude falls 43.09 to 99.45DAX down 1.8%Grain and soybeans little changedHogs resume power dive off $1.50 at $83.42 on JuneCattle tread water off $.20Open outcry trade at CME now under 10% of volume.10:23 updateDow down 105Crude over $2 lower near $100 per barrelCattle trade at 412021 in Nebraska but Kansas and Texas are slow to developLower pork cutoutCash hogs called steady to lower240,000 tons of optional origin corn to Mexico116,000 corn to S Korea120,000 tons of beans to unknownWatch dry HRW areas as soil moisture is deficient9:37 updateDow opens off 55 points following weak jobs reportEuro zone PMI was 46.7 down from 49.1Watch French and Greek electionsConsumers must lead recovery and that is in doubt as reports are mixed and statistics convoluted SHARE FinancialJust 115,000 new jobs reported and unemployment dips.1% to 8.1%US economy in a spring stall?European woes continue with DAX off .5%Crude oil down again at $101.53 off $.1.67Gold down $3 at $1633Dollar index up 8 at 79.30 still in range Facebook Twitter Facebook Twitter Previous articlePerfect Planting WeekNext articleJohn Deere planting Hoosier Ag Todaycenter_img 12:27 update1-3” of rain possible in Midwest this weekendJuly beans 54 cents off Wednesday highPalm oil weak againKC wheat at lowAlgeria buys 120,000 tons of HRW—routineIndia may export 10 MT of wheat as stocks swell toward 75 MT with a 63 MT cap11:21 updateDAX off 1.8%Spanish stocks down 4% on 10 year auction concernsItaly on it slow off 1.5%Dow now 129 points lower closing in on 13,000NASDAQ falls below 3000 and S&P is down to 1377. By Hoosier Ag Today – May 4, 2012 Home Market Market Watch Gary Wilhelmi 5/4/2012 Update 2 SHARE LivestockA few cattle trade down to $119 in the southBoxed beef choice down $.22 and select up $ .47Short covering headed cattle drive yesterday and hogs followed but faded latePork cutout down $.35 with loin’s off $.14 and hams steadyNo cook out cuts featured for this weekendKills up 2000 cattle and down 12,000 hogs for the weekGrain and soybeansLarge exports 3.47 MT of corn and 1.7 MT of beans but proved to be in the marketWatch for more Chinese bean buying this morningExpanded trading hours at the CME pushed back to 5-21 due to paperworkRains into the weekend in the Midwest then cooler and dryerKansas wheat needs rainS/D report next ThursdayVolatility intensity turning up again—so take the long view and don’t be confused by speculative garbage tradelast_img

Leave a Reply

Your email address will not be published. Required fields are marked *