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October 7, 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 | -.10 ¾ | 4.43 ¼ | 7.57 |
| Soybeans | -.24 ¾ | 12.95 | 15.51 ½ |
| Wheat | +.04 | 6.87 | 8.69 ¼ |
| Cattle | -.20 | 128.05 | 122.33 |
| Hogs | -1.08 | 91.85 | 81.80 |
| Cotton | +.17 | 85.83 | 70.40 |
| Milk | +.09 | 17.06 | 21.06 |
| Crude Oil | -.91 | 103.84 | 91.71 |
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Comments: Corn and soybean futures slid under pressure from Monday's larger-than-expected Sept 1 stocks estimates and building harvest pressure.
Good early yields contributed to the pressure.
However soybean futures rallied Wednesday through Friday to trim their losses on support from harvest delays and a lack of producer selling in the cash market.
Corn futures were propped up by the soybean strength and slow producer selling.
Wheat futures were firm on support from lower-than-expected Sept.
1 stocks that indicated strong first quarter 2013-14 use and some overseas crop concerns, but their growing premium to corn limited further buying interest along with oversold market conditions, good U.S.
winter wheat seeding conditions and an increase in Canada's expected harvest.
Livestock futures were mostly lower last week, with lean hog futures pressured by USDA's larger-than-expected Sept.
1 hog herd estimate.
Hog contracts found support, though from their discount to cash and good pork demand.
Live cattle futures felt light pressure all week from speculative long liquidation spurred by overbought market conditions and negative packer operating margins, but were supported by tightening cattle supplies.
Cotton futures were boosted by worries about slow U.S.
crop development and concerns about Chinese production.
The absence of key data normally provided by USDA due to the partial U.S.
government shutdown was problem across agricultural markets.
The shutdown will likely delay the USDA crop report scheduled to come out this Friday.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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