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May 6, 2013
In the News
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.55 ½ | 6.99 ½ | 6.40 ½ |
| Soybeans | +.24 ¼ | 14.55 | 14.68 ¾ |
| Wheat | +.22 ½ | 7.11 ¼ | 6.08 ¼ |
| Cattle | -.77 | 121.83 | 115.88 |
| Hogs | -.35 | 92.18 | 84.93 |
| Cotton | +2.47 | 84.72 | 87.24 |
| Milk | unch | 18.70 | 14.95 |
| Crude Oil | +2.61 | 95.61 | 102.54 |
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Comments: Last week was a strong one for grain and soybean futures as corn prices took off to the upside on Monday amid heightened concerns about planting delays and pulled soybean and wheat futures with them.
USDA on Monday afternoon pegged U.S.
corn planting progress at just 5% as of April 28, matching the slowest pace on record.
Corn price action was choppy the remainder of the week, though, with forecasts for improving planting conditions limiting further gains.
Soybean futures gave back some of their Monday gains amid signs of slowing demand and fears of corn acreage switching to soybeans.
Wheat futures found fundamental support from declining expectations for U.S.
HRW wheat production, but ample world wheat stocks and increased export competition kept a lid on price gains.
Live cattle futures were boosted at midweek by signs of improved U.S.
beef demand, including record choice beef prices, but collapsed on Friday amid ideas a seasonal high in demand was near.
Lean hog futures were boosted by seasonal strength in cash hog markets, but also set back on Friday amid demand concerns.
Cotton futures rallied on support from continued strong export demand for U.S.
cotton and planting delays in the Mississippi River Delta region.
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