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July 15, 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 | +.19 ¾ | 5.45 ½ | 7.31 ¼ |
| Soybeans | -.03 | 14.29 | 14.01 ¼ |
| Wheat | +.21 | 6.81 | 8.46 ¾ |
| Cattle | -.10 | 121.85 | 117.03 |
| Hogs | -.25 | 102.10 | 97.30 |
| Cotton | -1.30 | 85.13 | 69.36 |
| Milk | +.12 | 17.36 | 16.71 |
| Crude Oil | +2.73 | 105.95 | 86.08 |
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Comments: Corn and soybean futures started out the week strongly as crop concerns arose on forecasts for hot, dry weather in the western Corn Belt, but the air was let out of the weather market on Friday as weather models removed extreme heat from the outlook for this week.
Larger 2013-14 carryout forecasts released by USDA on Thursday for both corn and soybeans also weighed on prices as the trade was looking for the stocks estimates to shrink.
July futures expired on Friday, leaving Sep.
corn and Aug.
soybeans as nearby contracts.
Wheat futures posted modest gains on support from early-week corn price strength and USDA's smaller U.S.
and world carryout forecasts for 2013-14.
Strong demand for U.S.
SRW wheat from China was also a supportive market factor.
Livestock futures action was mixed, with live cattle futures chopping sideways as traders awaited fresh direction from Plains cash markets and wholesale beef prices weakened further.
Most live hog futures contracts came under pressure from seasonal weakness in cash hog and wholesale pork prices.
Technical selling also weighed on hog futures.
Cotton futures were pressured by larger U.S.
and world ending stocks estimates from USDA.
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