Seed Consultants Market Watch 2/1/2013 Morning Comment Gary Wilhelmi


Dow pre open off 50 following a weak jobs report of 157,000 new jobs and —Dow open plus 76, unemployment up to 7.9%
ISM manufacturing index expected at 50.7
PMI 51.5
U of M consumer sentiment 71.5
Construction spending up .8%
Chinese PMI 50.4 off .2%
Exxon earnings beat estimates
DAX down .3%
FTSE .6% lower
WTI crude $97.40 off $.14
Brent crude $116.38 up another $.79 and on a steady rise after breaking above $113
Gold chopping about at $1671 up $11
Dollar continues to decline off 24 at 78.95 the lowest in a while


Texas and Kansas cattle trade at $125 plus $3
Inventories forecast at down 1.8% and watch lots under 1000 head as they have been steadily closing
Boxed beef $1.44 lower choice and $.77 in select cuts
Kill 487,000 thus far off 2000
Hog kill 1,666,000 up 24,000
Cold and snow curbs hog movement
111 loads of pork cutout at $.42 lower on carcass, down $ up $.46 loin’s, hams $3.17 lower and bellies $2.39 higher

Grain and soybeans
$7.42 March corn, $14.79 March beans and $7.82 March wheat
Dryness in Argentina now affecting the soybeans and also up into S Brazil
Informa private S American crop estimates today
China 222,000 tons of additional 13-14 beans yesterday
Chinese New Year begins 2-9 and their buying is in anticipation
NOPA crush will start being released at 11 CST on 2-15
Heavy snow in upper Midwest will eventually add to shallow steams
Brackets: March corn $7.35 -7.50, March beans $14-15 and March wheat $7.40-8.10

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