Ready or Not, Reports Are Out at 11:00
Jan 10, 2014
Good Morning! Paul Georgy with early morning comments for January 10, 2014 at 4:45 am.
Grain futures are mixed. Corn and wheat are lower while soybeans are higher in a light volume session ahead of today’s USDA Reports.
View USDA Results Here
All of today’s reports will tie into Allendale’s Ag Leaders Conference at the end of the month. We’ll lay out the fundamental and technical picture for 2014 and help you develop a strategy for marketing your operation. Click Here for More Info
Soybeans could be impacted by several different changes in the report. A change in yield, harvested acres and the especially export estimate on the balance sheet.
Wheat supply and demand numbers are not expected to see much change however the winter wheat planted acres could provide a spark.
Deep in the quarterly stocks numbers, the USDA will give us grain on-farm and off-farm storage. Once analysts have time to look at this data, it could have a long lasting impact on how spreads and basis may play out for the rest of the marketing year.
Rich Nelson will be providing a recap of the reports on YouTube shortly after 12:00. Make sure to tune in!
Funds were net sellers of 9,000 corn contracts and 3,000 wheat contracts while buying 4,000 contracts of soybeans, yesterday.
California and Wyoming are the latest U.S. states to report confirmed cases of a deadly pig virus, bringing the number of states affected to 22, the U.S. Department of Agriculture said on Thursday.
Beef cutout values were higher with choice up 1.92 and select up 1.98. The CME Feeder Index is 171.30. Cash cattle are at a standstill with light packer demand. Feedlots are hoping for trade to develop at 139 to 140.
The lean hog futures traders are waiting for some confirmation that the backed up hogs are cleaned up. The product is getting support from the sharp rally in beef at the retail counter. Pork cutout values were up 1.38 on Thursday.
Markets as of 4:45 AM
- Mar Corn -1 1/2
- Mar Beans +2 3/4
- Mar Wheat -1 3/4
- Feb Cattle -.02
- Feb Hogs +.52
- Mar Dlr +.03
- Mar S&P +5.00
- Feb Crude +.95
- Feb Gold +3.70
Chart of the Day
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