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October 21, 2013
In the News
The annual Agri Marketing Services Guide forms have been distributed. Please be sure to fill them out so your organization receives its listing. If you need a form, contact: stephaniew@agrimarketing.com |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.08 ¼ | 4.41 ½ | 7.60 ½ |
| Soybeans | +.25 ½ | 12.91 ¼ | 15.45 ½ |
| Wheat | +.13 ½ | 7.05 ¾ | 8.68 ½ |
| Cattle | +1.08 | 129.88 | 126.23 |
| Hogs | +1.35 | 87.95 | 78.85 |
| Cotton | -.26 | 83.11 | 77.72 |
| Milk | +.03 | 18.25 | 21.04 |
| Crude Oil | -1.21 | 100.81 | 92.12 |
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Comments: Grain and soybean futures recovered some of the previous week's losses on support from renewed talk of strong demand, early-week harvest delays and technical buying.
The deal worked out to avoid a U.S.
debt default also provided some support for prices along with a dive in the value of the dollar amid expectations for the U.S.
Federal Reserve to continue its monetary easing efforts for an extended time.
The resumption of USDA reporting activities on Thursday was a relief for traders of all agricultural commodities, however, USDA cancelled its October crop report and supply/demand update.
Continued talk of Chinese demand was supportive for both corn and soybean prices.
Wheat futures rallied sharply on Friday on a low crop estimate from Argentina's agriculture ministry and fears frost would further damage that country's crop.
Nearby livestock futures were boosted by strength in cash cattle and hog prices, but deferred live cattle futures reversed sharply on Thursday as potential for a strike at a large Colorado beef plant created demand worries and triggered technically-driven long liquidation.
Lean hog futures continued to find support from lower-than-expected slaughter levels, but pork price weakness was a negative market factor.
Cotton futures ended lower in choppy trading on pressure from large world stocks amid an absence of fresh supportive news.
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