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July 22, 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 | -.01½ | 5.44 | 7.78½ |
| Soybeans | +.61¾ | 14.90¾ | 17.33¾ |
| Wheat | +.16½ | 6.64½ | 9.35 |
| Cattle | +.13 | 121.98 | 118.95 |
| Hogs | +1.58 | 96.48 | 93.05 |
| Cotton | +1.39 | 86.52 | 671.79 |
| Milk | +.01 | 17.37 | 16.68 |
| Crude Oil | +2.41 | 108.36 | 92.66 |
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Comments: Weather and tight old-crop supplies remained the dominant factors in the corn and soybean futures markets last week, New-crop corn futures opened the week higher on concerns about hot weather in the U.S.
Corn Belt, but turning down on forecasts for milder weather for the key pollination period.
Soybean futures also felt pressure from weather forecasts but gained ground with nearby August futures up sharply on support from its discount to strong cash markets.
Wheat futures struggled with pressure from the ongoing winter wheat harvest strong corn production prospects and rising competition from low-priced Black Sea region wheat, losing ground despite strong U.S.
export sales.
Livestock futures were firm last week with live cattle futures chopping sideways as support from expectations for tighter cattle supplies continued to be offset by weak beef demand.
Lean hog futures were boosted by their discount to cash hog prices, but deferred contracts were pressured by expectations cheaper corn to lead to hog herd expansion.
Cotton futures rallied back from early-week weakness on support from technical buying and improved U.S.
export sales.
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