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December 23, 2013
In the News
The Agri Marketing staff wish you and yours a very Merry Christmas!
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.08 ¼ | 4.33 ¼ | 6.96 ½ |
| Soybeans | +.11 ½ | 13.39 | 14.08 ¾ |
| Wheat | -.15 ¼ | 6.13 ½ | 7.90 ½ |
| Cattle | -.08 | 131.80 | 128.95 |
| Hogs | -.80 | 86.38 | 86.45 |
| Cotton | -.07 | 83.15 | 75.83 |
| Milk | +.01 | 19.03 | 18.65 |
| Crude Oil | +2.32 | 99.32 | 90.13 |
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Comments: The big news last week was the U.S.
Federal Reserve's decision to begin “tapering” its monetary easing efforts, which was seen as a vote of confidence in the U.S.
economy.
The Fed's decision, though, did not have a significant impact on agricultural markets, which were mixed in lightened pre-holiday trading volume.
Soybean futures continued to edge higher with concerns about hot weather in Argentina emerging to support prices in the absence of further bullish news on the demand side.
Corn futures also found support from Argentine weather along with year-end position evening by commodity funds.
Corn gains were limited by mounting Chinese rejections of U.S.
corn cargos and large U.S.
corn stocks.
Wheat futures remained extremely weak as they slid to new contract lows on pressure from ample world supplies and technical selling.
It was a choppy week in the livestock markets.
Live cattle futures sold off under pressure from cash market weakness then recovered late in the week with help from news China had agreed to ease restrictions on imports of U.S.
beef.
Front-end lean hog futures remained under pressure from ample hog supplies in cash markets, while deferred months edged higher on uncertainty about 2014 supplies.
Cotton futures traded to 8-week highs, but ended the week little changed as profit taking offset support from tight U.S.
supplies.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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