Friday, June 28, 2013

Brace for Impact!

Stocks Crash In Closing Minutes

Stocks All Over the Map

The Dow has been down nearly 100 points, and up modestly, but is all over the place today.

Corn Plunges on Larger Crop Forecast

The other grains seem to be trading down in sympathy!

"Corn farmers in the U.S., the world’s biggest producer, planted the most acres since 1936 this year, more than a prior government forecast, as growers responded to low stockpiles with more planting."

Corn futures plunged more than 5% in Chicago, while wheat set one-year lows on both sides of the Atlantic, after US growers were shown to have overcome heavy rains to plant more crop than investors had expected.
The sodden spring, the wettest on record in Iowa, the top US corn and soybean producing state, looks to have prevented some wheat plantings, with farmers getting 12.3m acres in the ground, some 400,000 acres less than they had originally expected.
However, on soybeans, growers managed to sow a record 77.7m acres, more than they had initially hoped to sow, a survey by the US Department of Agriculture data showed.

Thursday, June 27, 2013

Wednesday, June 26, 2013

Something In This Picture Doesn't Match

GDP revised down, but stocks up 120.

Stocks Rally Despite Downward GDP Revision

Q1 GDP was revised downward this morning, but stocks are up regardless.

Tuesday, June 25, 2013

Kocherlakota Day 2

Kocherlatkota Says "Risk On"

Minnesota Fed Governor Kocherlakota said that the market have misunderstood, thinking that the Fed is "hawkish". It isn't! This was the result (circled in blue).The Fed now so completely controls the stock market that one can say that there no longer IS a market. The Fed OWNS the market! The bubble! It's baaa-aaack!

Monday, June 24, 2013

Sunday, June 23, 2013

Cattle Futures Break Out, Prices Rise

CLEVELAND, Ohio — Drought conditions in the United States have improved since last September, but they remain severe in the West and are affecting consumers across the nation.

  CHICAGO, June 21 (Reuters) - The number of cattle placed in
U.S. feedlots last month slipped 2 percent, a government report
showed on Friday, which analysts attributed to rising feed costs
discouraging the fattening of cattle for slaughter.
    The U.S. Department of Agriculture showed May placements at
2.049 million head, compared with 2.084 million a year earlier.
Analysts, on average, expected a 5 percent decline.