9-9-10
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9-9-10 weekly column $39.95 per year to Gary Wilhelmi 709 Lytle Street Vlapraiso, Indiana 46383 09/09/10 9:19:53 AM
Wilhelmi 9-9-10 AM keys
Financial
Jobless claims down 27,000 versus -2000 expected
Trade deficit down to $42.8 b
Europe debt auctions go well
Dow up 74
Crude +$1.01
Gold about steady at $1256
Dollar index off 16 to 82.42
Livestock
Short bought packers push cattle to $98
Lower kills, less imports and more exports
Boxes beef soft
Replacements cautious
Kill 131,000
Direct hogs +$.16
Pork cut out up +. 47 with loins up $ 81 and bellies $3.31 better
Kill 422,00o0
Grain and soybeans
Crop report tomorrow morning with corn generally expected to be down 2 bushels on yield from 165 and beans slightly lower 30-40 from 3.4 b last month with yield gross at 44 bpa
Corn fun long immense at 400,000 contracts and beans a little over bought
Watch out for normal corrections whish may be extreme
Basic fundamentals of corn are quite positive with carry over at 1.3 b with reductions perhaps taking carry down under 1 b
Weather good crop ratings have been stable in corn and beans
US shut out of last two N African wheat tenders
Global wheat stocks expected 4 MT lower
Russian winter wheat plantings advancing
Export ban could end earlier than expected
109,000 tons of wheat to unknown ad Japan routinely buys 129,000 tons
Weekly export sales tomorrow
115,000 tons of beans to China but pace has slowed
S American bean prospects look larger again for next year with Brazil approaching 70 MT
Questionable fund trading at Shanghai exchange
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