11:58 update
Germany’s Merkel goes to Greece next week a symbolic gesture
S&P 1467 up 6 with resistance at 1472
Crude off $1.66 at $90.33
Dollar off 12 at 79.24
Gold $1780 with resistance at $1800
10:58 update
S&P at 1470 with resistance at 1472
Dow up 76
Crude off $1.09 at $90.67 near support
Dollar continues to fall off 24 at 79.12
Corn basis slow to improve as harvest enters second half and yields looking a bit better
Soybean yields seen up 2 bushels by some private guessers
China buys 180,000 tons of 12/13 Soybeans after 21,000 tons of bean oil
Russia to sell 100,000 of wheat per week through years end
Rains needed in the S Plains, Australia and the Black sea area
Pork packer demand positive and cash $1 higher
Pork cutout up $1.84
Financial
Unemployment drops to 7.8% a 44 month low but September jobs were up just 111,000
August lobs were revised to 142,000 from 96,000
The August report is often revised, indeed all of them are
European markets firmed in the wake of the report with the DAX up 1.1% and FTSE up .7%
Dow called higher and opened up 61
ECB jaw boning banks to support bail out push efforts all week
Gold off $7 at $1783
Crude oil down $.77 to $90.99 in what has been a volatile week
Dollar sold off sharply yesterday and this morning is at 79.24 off 12
Livestock
Cash cattle trade at $124 up $1
Boxed beef static week
Cattle and hog slaughter down 13,000 for the week
Pork cutout resumes up draft $1.84 with loins $4.79 higher and hams plus $.19
Good weekend for soup as it is going to be frosty
Grain and soybeans
Soybeans rallied on exports
Corn and wheat did not and corn was again quite poor
Dollar testing years low but not motivating exports
S. American crops looking good with a long way to go
Crop report 11th and beans may get a two bushel bump
All markets building a spec short position
Canadian canola 13.4 MT down from 14.7 earlier with wheat and barley crops good
Minimal night changes in values
