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June 3, 2013
In the News
The June issue of Agri Marketing will feature focus reports on Premium/Incentives and marketing to Pork Producers. To reserve your organization's ad space, 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 | +.04 ¾ | 6.62 | 5.55 ¼ |
| Soybeans | +.33 ¾ | 15.10 | 13.40 |
| Wheat | +.08 | 7.05 ½ | 6.43 ¾ |
| Cattle | -.40 | 120.18 | 117.10 |
| Hogs | +.85 | 95.63 | 89.80 |
| Cotton | -2.12 | 79.36 | 71.55 |
| Milk | -.13 | 17.78 | 15.22 |
| Crude Oil | -2.18 | 91.97 | 86.53 |
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Comments: Concerns about planting delays and U.S.
crop acreage remained the main focus in the corn and soybean markets last week, with new-crop futures seeing a strong boost from heavy rains in some key Midwestern growing areas.
Soybean futures led the way higher, largely ignoring Chinese cancellations of old-crop U.S.
soybeans.
Gains in old-crop corn futures were limited by demand concerns as weekly U.S.
ethanol output slipped.
Wheat futures struggled to find upward momentum with U.S.
winter wheat harvest picking up and the HRW wheat belt seeing some needed rains.
Surprisingly strong weekly wheat export sales were supportive for prices, but confirmation that unauthorized GM wheat had been found growing on a farm in the state of Oregon spurred caution from buyers about imports of U.S.
white wheat.
Livestock futures had a mixed week with live cattle futures continuing to chop sideways amid demand concerns as wholesale beef prices showed seasonal weakness.
Lean hog futures extended gains, though, as seasonally tight hog runs forced packers to pay up for supplies in the cash market and the deal for China's Shuanghui International to buy top U.S.
pork producer Smithfield Foods Inc.
spurred expectations for larger U.S.
pork exports.
Cotton futures continued to slump on technical selling and concerns about Chinese economic growth.
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