Markets closed mixed on the first day post Greek elections. Since the bailout party appears to be able to form a government markets are now looking to next shoe to drop as the Spain debt yield has moved to 7% during today’s bond action.
Breaking News – FedEx Announces First Quarter Earnings
Export shipments of U.S. soybeans for 2011/12 are forecast up 20 million bushels this month to 1.335 billion. And the 2011/12 soybean crush is forecast 15 million bushels higher this month to 1.66 billion based on higher demand for soybean meal. Higher soybean demand would further reduce U.S. season-ending stocks for 2011/12 to 175 million bushels, compared to last month’s forecast at 210 million.
Crop Corn Report Released June 18, 2012, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).
Projected U.S. wheat supplies for 2012/13 are lowered 51 million bushels with reduced carryin and lower forecast winter wheat production. Beginning stocks are lowered 40 million bushels with a 10-million-bushel increase in food use and a 30-million-bushel increase in exports for 2011/12.
Breaking News India’s interest rate decision
Industrial Production weakens
U.S. markets are poised for a higher open with S&P 500 fair value 5.1501 and the Dow fair value 51.09 on rumors
Breaking News out from the New York Fed
Breaking News – Dell Announces Dividend
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