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November 11, 2013
In the News
The Nov/Dec issue of Agri Marketing will feature focus reports on beef producers and direct marketing. To schedule your organization's ad, contact Audrey Evans: AudreyE@AgriMarketing.com; 515/954-8589 |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.10 ½ | 4.26 ¾ | 7.41 ¼ |
| Soybeans | +.40 | 13.06 | 14.99 ¼ |
| Wheat | -.18 | 6.49 ¾ | 9.02 ½ |
| Cattle | +.32 | 132.40 | 125.43 |
| Hogs | -.22 | 88.13 | 80.20 |
| Cotton | +.30 | 76.88 | 69.26 |
| Milk | -.06 | 18.78 | 20.90 |
| Crude Oil | -3.25 | 94.60 | 85.09 |
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Comments: Corn futures were pressured lower most of last week by expectations for USDA to peg the U.S.
corn crop above 14 billion bushels and ending stocks above 2 billion bushels, but posted a reversal up on Friday after USDA raised stocks by only 32 million bushels to 1.887 billion.
Oversold market conditions and strong gains in soybean futures helped corn futures pull off of 38-month lows despite a larger-than-expected world corn carryout forecast.
Soybean futures posted most of their gains for the week on Friday on stronger-than-expected USDA demand projections.
USDA pegged the U.S.
soybean carryout at 170 million bushels, close to the average of trade estimates, even though the new U.S.
crop estimate of 3.258 billion bushels was near the high end of expectations.
Wheat futures remained under pressure from a slowdown in export demand and favorable winter wheat conditions.
USDA pegged the U.S.
wheat carryout at the high end of expectations, adding pressure on prices.
Livestock futures chopped sideways last week with live cattle contracts pressured by lower cash trade, but supported by prospects for U.S.
supplies to continue tightening.
Lean hog futures were also pressured by weak cash trade, but again found support from firm pork prices and concerns about the U.S.
Porcine Epidemic Diarrhea outbreak.
Cotton futures found some support from speculative profit taking spurred by overbought market conditions.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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