In the News

The next issue of Agri Marketing will feature focus reports on marketing to Rural Lifestyle consumers plus fruit & vegetable growers. Readex will be conducting a study on the issue's ads. To schedule your organization's ad, contact Audrey Evans: 636/728-1428 ext 2003; AudreyE@AgriMarketing.com.

presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+.08	4.73 ¾	7.97 ¾
Soybeans	+.64 ¾	12.83 ¼	16.56 ¼
Wheat	-.02 ½	6.31	8.61 ¾
Cattle	+1.22	123.90	120.85
Hogs	+1.75	86.93	75.63
Cotton	+3.35	93.40	72.37
Milk	-.04	18.05	17.66
Crude Oil	+1.49	107.46	95.60

Comments: Corn and soybean futures pulled out of their tailspin last week on support from lower-than-expected USDA crop estimates with soybean prices rebounding sharply. The USDA estimates boosted market sensitivity to dry weather in the top corn and soybean producing state of Iowa and lagging crop development, which has both corn and soybean production is at risk of frost damage this fall. The big surprise was USDA's first survey estimate of soybean production, which came in 165 million bushels or 4.8% below the agency's July projection. USDA lowered its projected U.S. soybean carryout for 2013-14 by 75 million bushels, more than 25%, as a result. USDA lowered corn production by a more modest 1.3% and ideas that corn supplies would still be ample this fall limited that market's recovery. Wheat futures could not manage strength despite the firmer corn market as wheat export competition heated up. Livestock futures had a strong week with both live cattle futures boosted by a further $2 rise in Plains cash cattle prices and strength in the wholesale beef market. Lean hog futures were propped up by their discount to a stronger-than-expected cash market, although their rally stalled a bit under pressure from rising hog supplies. Cotton futures were strong for the second week in a row amid concerns about crop production in the U.S. and in southern China. Click on the Brock logo or call 1-800-558-3431 for more info on our services.

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