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May 9, 2011
In the News
The next issue of Agri Marketing will have focus reports on direct marketing and selling to pork producers. To reserve your organization's advertising space, contact Audrey Evans at AudreyE@AgriMarketing; 636/728-1428 ext 2003.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.71 ¼ | 7.54 | 3.64 |
| Soybeans | -.67 ¾ | 13.25 | 9.45 ½ |
| Wheat | -.44 ¾ | 7.69 ¼ | 4.97 ¼ |
| Cattle | -3.50 | 109.85 | 95.85 |
| Hogs | -1.93 | 93.35 | 89.03 |
| Cotton | -12.46 | 145.56 | 79.85 |
| Milk | +.17 | 16.58 | 13.12 |
| Crude Oil | -16.75 | 97.18 | 77.11 |
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Comments: Most agricultural commodities were hammered last week by a strong wave of commodity fund long liquidation tied to the collapse in crude oil futures and a surge in the value of the dollar. Indications of slowing demand for commodities in the face of high prices were a major negative influence for crude oil futures and most markets. Poor weekly export sales highlighted slowing demand in the corn and soybean markets. Fast planting progress in the western Corn Belt also weighed on corn futures. Wheat futures losses were limited to some extent by ongoing concerns about winter wheat conditions and spring wheat planting delays. USDA reports due out Wednesday morning may be key to this week's price action, with USDA set to release its first monthly projections for 2011-12 grain and soybean supply/demand and its first survey estimate of U.S. winter wheat production. Demand concerns pressured livestock markets for the second week in a row as wholesale pork and beef prices slid to their lowest levels in weeks and weekly U.S. unemployment insurance claims jumped unexpectedly. Cotton futures continued to beat a fast retreat with plunging Chinese prices helping to spur increased concerns about demand.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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