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May 13, 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 | -.11 ¾ | 6.87 ¾ | 6.25 ½ |
| Soybeans | +.33 ¼ | 14.88 ¼ | 14.52 ¼ |
| Wheat | -.14 ½ | 6.96 ¾ | 5.94 ¾ |
| Cattle | -1.38 | 120.45 | 115.85 |
| Hogs | -1.68 | 90.50 | 84.50 |
| Cotton | +.05 | 86.48 | 81.82 |
| Milk | -.15 | 18.55 | 15.24 |
| Crude Oil | +.43 | 96.04 | 97.69 |
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Comments: Price action in grain and soybean futures was mixed last week as traders focused on uncertain planting weather and tight old-crop corn and soybean stocks ahead of Friday's USDA reports.
A strong dollar weighed on prices late in the week.
Corn and wheat futures ended the week on a down note under pressure from USDA's supply/demand data as the agency forecast a 2-billion-bushel U.S.
corn carryout for 2013-14, up from this year's 759 million.
USDA also projected world wheat stocks to rise next year on record world production despite U.S.
crop problems.
Extremely tight U.S.
soybean stocks were supportive for soybean futures most of the week, although the market was pressured on Friday by USDA's forecast for a record high 75-million-metric-ton world soybean carryout in 2013-14.
Livestock futures had a down week as demand concerns resurfaced in the hog market on poor packer margins and larger market-ready cattle supplies pressured Plains cash markets.
Export demand remained a negative concern in the hog market as USDA lowered its forecast for 2013 U.S.
pork exports by 3.4%.
Cotton futures had an extremely choppy week and finished under pressure as USDA forecast another record world cotton carryout for next year.
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