12:35 update
Cattle helped by equities and energy markets are 270 points above Monday low
Boxed beef $.6 lower
Packer demand firms cash cattle?
Hams strong leads pork
Cattle plus pulls pork
Talk of 600,000 ofChinacorn buying from last Friday unconfirmed
Beans need to rally versus corn to attract cares
12:10 update
Dow 13,065 up 105
NASDAQ 3013 up 29
Crude oil $107.01 up $ .67
Gold $1700 steady
May beans up $.18 at $13.52
Corn steady
Wheat off $.3 at 46.47
Meats mark time cattle up $ .77 while hogs or about unchanged
10:40 update
240,000 tons of corn to unknown likelyChina
Ukrainewheat off 2 MT at 14 MT
Watch S. Brazilian bean conditions
Cattle up $ .70 early and cash may exceed last week’s values, beginning perhaps today
NASDAQ over 3000 on tech strength
Crude pulls back $105.82 off $ .52
Financial
FOMC today no change in rates expected with a moderate growth
Retail sales up .6% in January the best since September
Business inventories expected to rise .5%
Dow up 50 at 13,008
Crude up $ .40 at $106.80
Gold off $12 at $1687
Dollar up to 80.46 42 better
DAX up .9%
Livestock
Show lists unchanged in cattle
Cash offered at $130 up from $126
Choice beef off $1
Warm weather means cook outs
Gas guzzling money for meats
Pork cut out up $ .58 with loins $.8 better and hams up $2
Slaughter level with a week ago
Grain and soybeans
New high beans
Brazilian beans 49% harvested
“Oil World’ estimates 68 MT with USDA at 68.5 MT
Argentina 47 MT and corn and corn at 21.6 both unchanged
Chinese corn purchase rumor persists of 2-3 cargoes
Argentine port strike stalls 85 ships but that is down last week
Watch bean export sales to measure S. American competition
Corn plantings begin in the south
Midwest farmers await insurance OK to plant as it is awfully early
Informa’s 95.5 million acres corn estimate would bear down on new crop corn
Watch put options
Plains wheat in good shape with Nebraska 65% g-x versus 40% last year and Kansas 50% up from 25%