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September 30, 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 | +.03 | 4.54 | 7.16 ¼ |
| Soybeans | +.04 ½ | 13.19 ¾ | 15.70 ¾ |
| Wheat | +.37 ¾ | 6.83 | 8.55 ½ |
| Cattle | +2.30 | 128.25 | 122.45 |
| Hogs | +1.88 | 92.93 | 74.85 |
| Cotton | +2.11 | 86.63 | 71.53 |
| Milk | -.01 | 18.13 | 18.97 |
| Crude Oil | -1.92 | 104.75 | 91.85 |
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Comments: Corn and soybean futures chopped sideways last week as traders watched early U.S.
harvest results and evened positions ahead of USDA's quarter's Grain Stocks report, which has been full of surprises in recent years.
Indeed, this morning's report showed Sept.
1 U.S.
corn stocks above the range of trade estimates pegged soybean stocks above the average of trade estimates.
Nearby wheat futures rallied to their highest levels in about 2-1/2 months last week on support from speculative position evening and continued strong U.S.
export sales.
Record high wheat prices in China and concerns about Argentina's crop.
Monday's wheat stocks number was supportive relative to trade expectations, but corn and soybean losses weighed on wheat futures.
Livestock futures surged last week with live cattle futures supported by the bullish USDA Cattle-on-Feed report that pegged the U.S.
feedlot inventory at a 10-year low as of Sept.
1.
Lean hog futures rallied on their discount to cash, speculation that USDA's Hogs and Pigs report would show Sept.
1 hog supplies below a year earlier and ideas the sale of Smithfield Foods Inc.
to China's Shuanghui International Ltd.
would boost U.S.
pork exports to China.
However, the Hogs and Pigs Report was mostly negative versus trade expectations.
Cotton futures rallied on concerns about production in the U.S., China and India as well as technical buying.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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