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November 18, 2013
In the News
An in-depth report on AGCO's Product and NEW Product of the Year awards will run in the next issue of Agri Marketing. To schedule your organization's congratulatory ad, contact Audrey Evans at AudreyE@AgriMarketing.com; Ph: 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 | -.04 ¾ | 4.22 | 7.21 ¼ |
| Soybeans | -.15 ½ | 12.80 ½ | 14.02 |
| Wheat | -.05 ¼ | 6.44 ½ | 8.45 ½ |
| Cattle | +1.00 | 133.40 | 125.60 |
| Hogs | -2.23 | 85.90 | 80.08 |
| Cotton | +.24 | 77.12 | 73.96 |
| Milk | +.04 | 18.82 | 20.79 |
| Crude Oil | -.76 | 93.84 | 85.45 |
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Comments: Corn futures could only manage one day of follow-through to their post crop report rally and spent the rest of the week edging back toward their recent lows as traders anticipated a U.S.
Environmental Protection Agency proposal to cut the U.S.
ethanol mandate for 2014.
That proposal was made official shortly before Friday's futures close.
Soybean futures started the week strongly on support from good demand, but stalled out at midweek and then collapsed on Friday under pressure from favorable South American weather and an EPA proposal to freeze the U.S.
biodiesel mandate at the 2013 level for two years.
Wheat futures continued to drift lower on technical weakness, favorable U.S.
winter wheat conditions and wheat's price premium to corn, despite some signs of renewed export demand.
Livestock futures had a widely mixed week with live cattle futures firming on positive U.S.
economic data and expectations for tighter supplies, while lean hog futures slid under pressure from falling cash markets.
Larger hog supplies and record hog weights allowed packers to pressure cash hog markets.
Cotton futures chopped sideways in a consolidation pattern as traders watched for news on the release of Chinese cotton reserves, finding support on Friday from a strong weekly export sales total.
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