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.
Comments: Trading in grain and soybean futures was dominated for much of the week by positioning ahead of Friday's flood of USDA data.
The big stories of the week were the collapse of wheat futures to 3-1/2 year lows and corn futures' reversal up on Friday in response to lower-than-expected USDA estimates of U.S.
production and ending stocks.
Corn futures were pressured much of the week by expectations for USDA to raise its supply estimates, but the agency cut its U.S.
corn yield estimate and lowered its 2013/14 ending stocks projection by 161 million bushels to 1.631 billion.
Despite the smaller corn supplies and smaller-than-expected U.S.
winter wheat seedings, wheat futures extended their collapse as USDA raised its wheat carryout forecast due to indications of record low wheat feed usage during September-November.
Soybean futures rebounded slightly from the previous week's collapse with USDA raising its forecasts for both U.S.
production and use as expected.
It was a choppy, mixed week for livestock futures with live cattle edging higher on record cash prices amid tight cattle supplies.
Lean hog futures, however, came under some pressure as severe cold and snow in the U.S.
Midwest caused slaughter plant closures, backing up supplies.
Cotton futures were pressured by a further rise in USDA's forecast for world ending stocks to more than 97.6 million bales.
Click on the Brock logo or call 1-800-558-3431 for more info on our services.
