Market Wrap Up 6/26/12 with Gary Wilehlmi

first_imgHome Market Market Watch Market Wrap Up 6/26/12 with Gary Wilehlmi Facebook Twitter Market Wrap Up 6/26/12 with Gary Wilehlmi SHARE SHARE By Hoosier Ag Today – Jun 26, 2012 Facebook Twitter Previous articleCorn and Bean Price Explosion; More to Come?Next articleHot, Dry Weather Could Make It Harder For Growers To Control Weeds Hoosier Ag Today FinancialWait and see attitude in all areas ahead of EU summitEU finance ministers to meet before summitGermany’s Merkel warns not to be optimistic about summit as nothing has come of them beforeWatch over European markets for advance warningsUS home sales and consumer confidence reports were not motivationalSupreme Court Health care decision must come this week as the term ends this week.More certainty for business unlikely coming out of the Court rulingLivestockTriple digit temperatures will curb appetitesAnother strong leg up in corn depresses feeder cattlePackers making money but producers are not as break even at $135 is well over $115 cashPork cutout looks toppy at $101Our struggling economy suppresses meat demandGrain and soybeansProfit taking in beans but corn steams ahead up $.28 on the December at a new high of $6.22 with resistance at $6.40Arid conditions are creeping into parts of Iowa and Northern Missouri25% of the Illinois corn is rated poorPlanting s and stocks reports at end of the weekCorn plantings 96 million and beans 75.2Corn stocks 3.67 billon, beans 619 million and wheat 1.21 billionBe careful of stocks as revisions often occur must past measuresStocks are the prime indicator of domestic usageDollar near its high retards all exportsWatch dryness in Europe, Russia and AustraliaBeware of speculative gymnastics as we come into the reports and the EU confablast_img

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