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August 26, 2013
In the News
Nominations are now open for Agri Marketing's 2013 New Product and Product of the Year! For more information, go here |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.21 ¾ | 4.95 ½ | 8.08 ¾ |
| Soybeans | +.82 | 13.65 ¼ | 17.27 ¼ |
| Wheat | +.03 ½ | 6.34 ½ | 8.74 ½ |
| Cattle | -.80 | 123.10 | 120.33 |
| Hogs | -1.83 | 85.10 | 75.63 |
| Cotton | -9.16 | 84.24 | 72.58 |
| Milk | -.15 | 17.90 | 17.70 |
| Crude Oil | -.87 | 106.42 | 96.27 |
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Comments: Soybean futures rocketed to the upside last week as low pod counts out of an annual Midwest crop tour and hot, dry weather ignited fears crop production could fall short of expected 2013-14 usage.
A significant portion of the crop across the western Midwest is expected to be stressed during the key growing stage by high temperatures in the 90s F.
across the western Midwest this week.
Corn futures were pulled higher by the runaway soybean market and also found support from ideas the hot weather will hurt grain-fill and cut yields.
However, corn gains were limited, by indications from the crop tour that yields will still be good and prospects for the hot weather bring an earlier Midwest harvest.
Wheat futures were propped up by strength in corn and soybean prices despite a lack of supportive fundamental news, with U.S.
spring wheat harvest activity and prospects for a big Canadian crop weighing on futures.
Livestock futures set back with live cattle contracts pressured by positioning ahead of Friday's USDA monthly Cattle-on-Feed Report and lackluster cash trade.
The USDA report, however, was supportive for prices.
Lean hog futures were pressured by cash hog/wholesale pork price weakness brought on by seasonal increases in hog supplies.
The cotton market collapsed as speculators abandoned a large long position they had recently built after they could not force the cotton trade to abandon short hedge positions.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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