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September 16, 2013
In the News
Nominations are now open for Agri Marketing's 2013 New Product and Product of the Year! For more information click here.
The October issue of Agri Marketing will feature a focus report on Ag/Rural broadcasting! |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.09 ¼ | 4.59 | 7.73 ¾ |
| Soybeans | +.14 ¼ | 14.37 | 17.47 ¼ |
| Wheat | -.06 ¼ | 6.41 ½ | 9.02 |
| Cattle | -.23 | 125.45 | 127.55 |
| Hogs | -.20 | 90.70 | 73.55 |
| Cotton | +1.97 | 85.21 | 72.95 |
| Milk | +.12 | 18.18 | 18.88 |
| Crude Oil | -2.32 | 108.21 | 98.31 |
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Comments: Grain and soybean futures trade was choppy and mixed again last week with position evening ahead of USDA's monthly crop production and supply/demand reports dominating trading the first half of the week along with growing anticipation of the U.S.
harvest.
The USDA corn crop estimate was bearish prices as USDA raised its production number slightly with the trade expecting a cut of 140 million bushels.
The soybean market received supportive news as USDA cut its U.S.
production estimate by 106 million bushels, closely in line with trade expectations, sending soybean futures sharply higher on Thursday.
However, the soybean market was unable to follow-through on Friday as it failed near key chart resistance, leaving the further upside for prices uncertain.
Wheat futures continued to track corn prices closely and felt some added pressure late in the week from higher USDA estimates of U.S.
and world wheat ending stocks.
Livestock futures ended the week little changed in very choppy trading with the rally in lean hog futures stalling due to oversold market conditions and expectations for cooler Midwest weather to boost hog marketings.
Live cattle futures appeared to find renewed support from expectations for tightening supplies, even though Plains cash trade was again lackluster.
Cotton futures bounced back on pre-USDA report position evening and technical buying, but the rally stalled out amid large world cotton stocks.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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