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August 5, 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 | -.16 | 4.76 | 7.94 |
| Soybeans | -.18 ¾ | 13.31 | 16.53 |
| Wheat | +.10 ¼ | 6.60 ½ | 8.65 |
| Cattle | -1.15 | 120.65 | 120.00 |
| Hogs | +1.47 | 99.25 | 91.60 |
| Cotton | -.05 | 85.32 | 70.44 |
| Milk | +.01 | 17.89 | 17.17 |
| Crude Oil | +2.24 | 106.94 | 87.13 |
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Comments: Grain markets were mixed last week as position evening ahead of month-end and the Federal Reserve's Wednesday policy statement provided some early-week price support.
Corn and soybean futures, however, remained under strong pressure from favorable growing weather and prospects for record U.S.
crop production.
Better-than-expected weekly export sales did nothing to halt the downtrend in the corn market.
Wheat futures found some fundamental support from good demand in the world market and concerns about the quality of the U.S.
SRW wheat crop and the European soft wheat crop, but could not gain upward momentum amid the further weakness in corn prices.
Livestock futures had a mixed week with live cattle futures coming under pressure from their premium to Plains cash prices, which held steady again amid continued lackluster beef demand.
Front-end lean hog futures rallied on support from strong wholesale pork prices and improved packer margins, while back-end contracts remained under pressure from expectations for cheaper corn to cause herd expansion.
Cotton futures chopped sideways amid uncertainty about Chinese demand and U.S.
production.
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