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July 8, 2013
In the News
The next issue of Agri Marketing will feature the annual Ag/Rural Show Guide, a Salute to Canadian agriculture and the Ag Media Summit. To schedule your organization's ad, contact Audrey Evans at AudreyE@AgriMarketing.com or call 636/728-1428 ext 2003.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.05 ½ | 6.84 ¾ | 7.68 |
| Soybeans | +.23 ½ | 15.88 | 15.94 |
| Wheat | +.07 ½ | 6.56 | 8.22 ½ |
| Cattle | -.68 | 121.95 | 119.15 |
| Hogs | +1.07 | 102.35 | 95.83 |
| Cotton | +.97 | 83.68 | 70.92 |
| Milk | +.36 | 17.24 | 16.76 |
| Crude Oil | +6.66 | 103.22 | 87.22 |
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Comments: Nearby corn and soybean futures edged higher last week on support from tight old-crop stocks, but deferred contracts remained under pressure from favorable growing weather across the U.S.
Midwest and technical selling.
Crop condition ratings continued to improve across the Midwest, with both corn and soybean conditions rated 67% good/excellent as of June 30, up 2 percentage points from a week earlier.
The wheat market found support from technically-driven short covering, but gains were limited by continued harvest pressure.
Livestock futures trade was mixed with live cattle futures edging lower under pressure from their premium to Plains cash prices.
Nearby July lean hog futures were boosted by firm cash markets, but deferred hog contracts came under pressure from expectations for seasonal weakness in pork demand and anticipation that lower corn prices will spur herd expansion.
Cotton futures were boosted by favorable U.S.
economic data including Friday's monthly employment report, which indicated the U.S.
economy added 195,000 new jobs, beating the average of trade expectations by 35,000.
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