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April 1, 2013
In the News
The April issue of Agri Marketing will feature the Best of NAMA winners...and will include an update on Ag & Rural Broadcasting. To schedule your organization's ad, contact Audrey Evans at 636/728-1428 ext 2003; AudreyE@AgriMarketing.com
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .31 | 6.95 ¼ | 6.20 ¼ |
| Soybeans | -.44 ¾ | 14.04 ¾ | 13.67 ½ |
| Wheat | -.42 | 6.87 ¾ | 6.30 ¾ |
| Cattle | +2.70 | 128.90 | 124.45 |
| Hogs | +2.55 | 80.60 | 83.78 |
| Cotton | +1.17 | 88.46 | 94.03 |
| Milk | -.02 | 16.97 | 15.64 |
| Crude Oil | +3.42 | 97.23 | 105.35 |
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Comments: Grain and soybean futures ended a holiday-shortened week sharply lower after being blindsided with bearish March 1 stocks estimates from USDA on Thursday morning.
The stocks numbers put an abrupt end to concerns about tight old-crop stocks that had been pushing corn and soybean prices higher.
USDA pegged March 1 U.S.
corn stocks 386 million bushels or 7.7% above the average of trade expectations, while putting March 1 soybean stocks 64 million bushels or 6.8% above the trade average.
March 1 wheat stocks were 4.8% above the trade consensus.
USDA's estimates of 2013 U.S.
planting intentions were neutral to supportive, but were overshadowed by the larger old-crop supplies.
Corn intentions of 97.3 million acres were nearly right on the average of trade estimates, while soybean planting intentions were 1.7% below the average forecast.
It was a rebound week for livestock futures, with both live cattle and hog futures finding support from stronger cash prices and expectations for a seasonal pick up in red meat demand for the U.S.
spring grilling season.
Friday afternoon's USDA hog inventory report was a bit negative for prices, however, as it showed larger-than-expected March 1 market hog supplies.
Cotton futures bounced back a bit from the previous week's decline on profit taking and a neutral USDA forecast for U.S.
cotton seedings.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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