Kleist Comments

CLOSING AGS 8/19/13

LIVESTOCK

Cattle: Cash cattle last week $123.00-125.00; Nebraska $198.00-$200.00 dressed; boxed beef mixed on light movement; futures choppy and consolidating technically.

Hogs: Interior hogs sharply lower, off $2.64/2.99; pork midday cut outs slightly higher early; futures generally under light pressure in a nothing trade. Mixed interior markets and a still-weak pork trade kept rallies in the check.

GRAINS & OILSEEDS:

Corn: New swing highs led by mostly soybeans though hot & dry will affect later planted corn as well. While a large crop still roughly indicated, the market ‘making up’ what should have been some of a weather premium.

Soybeans: Sharply higher as the beat goes on. While lessened acreage a new wrinkle of late, hot & dry weather this week allowing for an extension of a weather premium.

Wheat: Follower. While not as much as the corn and/or the beans, wheat sucked higher on the heels of corn. However, not pound for pound as there is now ‘less corn’ and ‘more wheat’ to a degree. That also allows for corn/wheat spreading.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.