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July 30, 2012
In the News
The Sept. issue of Agri Marketing will have focus reports on the Rural Lifestyle Market and Marketing to Fruit & Vegetable Producers. Product of the Year entries are due Friday, Sept. 7.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.25 ¾ | 7.98 ½ | 6.91 ½ |
| Soybeans | -.73 ½ | 16.84 ¼ | 13.75 ¾ |
| Wheat | -.45 ¼ | 8.98 | 7.04 ¾ |
| Cattle | +1.65 | 119.60 | 111.08 |
| Hogs | +1.50 | 95.70 | 101.93 |
| Cotton | -1.33 | 70.73 | 103.85 |
| Milk | Unch | 16.67 | 21.34 |
| Crude Oil | -0.70 | 90.13 | 97.40 |
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Comments: Grain and livestock futures setback last week as improved rains in parts of the Midwest, growing demand concerns and overbought market conditions triggered speculative profit taking.
Technical selling extended losses early in the week. Trading was extremely volatile, especially in soybean futures; however, with fresh buying and short covering trimming losses as production concerns remained high.
A lack of rainfall in the top two corn and soybean states of Iowa and Illinois helped keep traders worries about supplies along with lower private production estimates released late in the week.
Grain markets also found late-week support from a weaker dollar as hopes grew for European Central Bank action to stem the euro-zone debt crisis and anticipation of monetary easing action by the U.S. Fed.
Livestock futures finished the week strongly, with deferred contracts leading the way on ideas high feed costs will trim U.S. production in 2013 and an easing in macroeconomic concerns.
Cotton futures slid back under pressure from weaker grain prices despite support from the weak dollar.
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