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January 6, 2014
In the News
The next issue of Agri Marketing will include the Best of CAMA winners...and spotlight on Ag TV programs. To schedule your organization's ad, contact Audrey Evans: AudreyE@AgriMarketing.com; phone 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 | 4.23 ½ | 6.89 ¼ |
| Soybeans | -.42 ¼ | 12.89 ¼ | 14.03 |
| Wheat | -.03 ¼ | 6.05 ¾ | 7.55 ½ |
| Cattle | +1.35 | 136.30 | 133.85 |
| Hogs | +1.03 | 86.68 | 86.40 |
| Cotton | -1.18 | 82.94 | 75.39 |
| Milk | +.58 | 20.06 | 18.06 |
| Crude Oil | -6.36 | 93.96 | 92.92 |
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Comments: Soybean futures were the big mover among the agricultural commodities last week with the nearby contract plunging more than 3% under pressure from beneficial rainfall across a large portion of Argentina's crop belt and technical weakness.
Most corn futures contracts made new lows on concerns about Chinese rejections and anticipation of increased producer selling before bouncing Friday on speculative profit taking.
Wheat futures also slid to new lows under pressure from ample world supplies before finding some support from concerns that sub-zero temperatures could damage the U.S.
winter wheat crop.
Oversold market conditions also spurred profit taking on wheat contracts.
Grain futures will likely stay choppy as traders get ready for a flood of USDA data on Friday, Jan.
10, when USDA will release annual crop production, quarterly grain stocks and winter wheat seedings data as well as updated supply/demand projections.
Livestock futures had a strong week with nearby cattle futures posting an all-time high as tightening market-ready cattle supplies and winter weather forced beef packers to pay record high prices in Plains cash markets.
Live cattle are now technically overbought, which could slow their rally.
Lean hog futures rallied on the supportive USDA Hogs and Pigs Report, cattle market strength and ideas cash hog prices have bottomed out.
Cotton futures came under pressure from speculative profit taking amid a lack of supportive news.
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