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July 29, 2013
In the News
Announcing Agri Marketing Alerts--breaking news of highest interest to the ag industry delivered via text message. Service is free to agri-marketers. To sign up, text AGRI to 282-342.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.52 | 4.92 | 7.81 ¼ |
| Soybeans | -1.41 | 13.49 ¾ | 16.55 ¾ |
| Wheat | -.14 ¼ | 6.50 ¼ | 8.84 |
| Cattle | -.18 | 121.80 | 118.18 |
| Hogs | +1.30 | 97.78 | 95.80 |
| Cotton | -1.15 | 85.37 | 70.68 |
| Milk | -.02 | 17.35 | 17.06 |
| Crude Oil | -3.66 | 104.70 | 89.39 |
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Comments: Corn and soybean futures collapsed last week under pressure from rising crop expectations spurred by mild temperatures across the U.S.
Midwest and forecasts for needed rains in western parts of the region.
Nearby futures led the way lower under added pressure from plunging cash basis bids as end-user demand for old-crop supplies dried up, while producers started clearing out storage bins.
Wheat futures were dragged lower by the sharp declines in corn and soybean prices despite support from favorable U.S.
export activity.
Competition from Black Sea region exports and favorable U.S.
spring wheat yield prospects remained negative market factors.
Live cattle futures price action remained choppy with futures staying in sideways ranges as traders watched for some movement in Plains cash markets, which traded mostly steady again.
Weak beef demand remained a negative market factor.
Front-end lean hog futures were firm most of the week on support from their discount to cash prices, but deferred months slid under pressure from expectations for lower corn prices and good domestic pork demand to spur herd expansion.
Cotton futures drifted lower amid an absence of supportive fundamental news.
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