Market Comments for 3/9/10…3:00pm...Look
for two sided trade tonight awaiting the USDA S&D report tomorrow morning.
Markets were lower on outside market weakness, larger South American crop
production estimates, favorable forecasts of spring weather and dwindling
export demand out of the US.
News
…
…
…The bio-diesel tax credit was suppose to be voted on today
in the jobs bill before the Senate.
…
…World Equities: Australia
+0.20%, China +0.52%, Hong Kong +0.05%, Japan -0.17%, Germany +0.17%, England
-0.08%.
…Outside markets:
crude -$0.58, gold -$3.70, euro +30, euro/yen cross -76, dollar index +10.00,
S&P +3.00, Dow +20.
Basis
and Freight Table 3/8/10 4:00pm---Daily Change
|
Market |
CIF C Mar |
CIF B Mar |
Dec C |
Dec B |
IR |
StL |
OR |
|
|
Value |
34/37k |
54/60k |
-4k |
+2k |
310/320 |
260/275 |
265/275 |
|
|
Change |
-1 |
+1 |
- |
+2 |
-10 |
-10 |
-15 |
|
Commitment of Traders (futures and options included in Supplemental Report)
|
3/2/10 |
Funds |
Change |
Estimate |
Index |
Change |
|
Corn |
+43,764 |
+25,659 |
+18,100 |
+454,113 |
+6,846 |
|
Beans |
-14,119 |
-2,547 |
-1,600 |
+170,571 |
+605 |
|
Wheat |
-59,701 |
-10,973 |
-65,200 |
+216,764 |
+1,030 |
|
Meal |
+19,025 |
-9,510 |
+20,700 |
- |
- |
|
Oil |
+11,453 |
+6,093 |
+12,400 |
+103,099 |
+5,341 |
Commitment of Traders (futures and options included in the Disaggregated
Report)
|
3/2/10 |
Managed
Money |
Change |
Estimate |
Swap
Dealer |
Change |
|
Corn |
+76,693 |
+11,826 |
+65,000 |
+384,565 |
-422 |
|
Beans |
+35,162 |
+7,668 |
+37,000 |
+138,696 |
+6,199 |
|
Wheat |
-34,168 |
+2,666 |
-53,000 |
+174,332 |
+60 |
|
Meal |
+21,758 |
-7,063 |
+20,000 |
+45 |
-555 |
|
Oil |
+34,756 |
+8,954 |
+32,000 |
+100,752 |
+7,275 |
|
Prod. |
Jan. # |
Avg Est |
Range |
Nov. # |
2008 |
|
Corn |
13.151 |
12.819 |
12.500-12.996 |
12.921 |
12.101 |
|
Beans |
3.361 |
3.337 |
3.219-3.420 |
3.319 |
2.967 |
|
Yield |
|
|
|
|
|
|
Corn |
165.2 |
162.5 |
160-164.5 |
162.9 |
153.9 |
|
Beans |
44 |
43.4 |
40-44.7 |
43.3 |
39.7 |
|
Plantings |
2009 |
||||
|
Winter |
37.1 |
40.916 |
38.4-43.5 |
- |
43.311 |
|
HRW |
27.8 |
30.414 |
29-31.6 |
- |
31.649 |
|
SRW |
5.9 |
6.975 |
5.9-8.1 |
- |
8.309 |
|
WW |
3.3 |
3.505 |
3.2-4.5 |
- |
3.353 |
|
Stocks |
9/1/09 |
12/1/08 |
|||
|
Corn |
10.934 |
10.663 |
10.1-11.4 |
1.674 |
10.078 |
|
Beans |
2.337 |
2.411 |
2.37-2.45 |
138 |
2.276 |
|
Wheat |
1.765 |
1.760 |
1.70-1.81 |
2.215 |
1.422 |
World crop
#’s, Argentine corn +2.2 mmt to 17.2, Argentine beans unch at 53 mmt,
Brazil beans up 1 mmt to 66 mmt.
|
09/10 S/D |
Feb. # |
Avg Est |
Jan. # |
World mmt |
|
Corn |
1.719 |
1.748 |
1,764 |
134 (-2.2) |
|
Beans |
210 |
219 |
245 |
59.73 (-.07) |
|
Wheat |
981 |
973 |
976 |
195.9 (+.03) |
|
Meal |
300,000 |
- |
300,000 |
5.76 (+.63) |
|
Oil |
2.227 |
- |
2.152 |
2.73 (+.19) |
|
Oats |
69 |
- |
69 |
|
Five day precip forecast by the NWS
See the USDA maps for major world crop areas here
Climate tables for the Midwest.
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