Market report Tuesday April 16 2013

Global markets are mixed this morning as yesterday marked the biggest one-day trading loss for US equities this year.
 
The Canadian dollar is gaining a bit of ground this morning and is currently trading at .977 after closing at .975 yesterday
 
Crops:
Soybeans are rebounding in the earlier session after yesterday’s losses. There was talk on Twitter this morning about a decrease of 8.5% in Chinese (the world’s largest soybean importer) soybean plantings for 2013. Bloomberg Financial is attributing the price action in soybeans to buying opportunities at these lower levels. The USDA released its weekly Crops Progress report yesterday afternoon and it revealed that an estimated 2% of the US corn crop was planted vs 16% a year ago.
 
Livestock:
Live cattle futures are starting the day with a higher than average trade volume and positive price action
 
Disclaimer: This commentary is provided for information only and is not intended as advice