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March 10, 2014
In the News
The April issue of Agri Marketing will include a listing of all the Best of NAMA national winners! And a focus report on Ag/Rural Broadcasting. To schedule your organization's ad, contact Audrey Evans at 515/954-8589; e-mail: AudreyE@AgriMarketing.com.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.23 ½ | 4.81 | 7.11 ½ |
| Soybeans | +.43 ¼ | 14.57 ½ | 15.03 ½ |
| Wheat | +.47 ¼ | 6.46 ¼ | 6.86 ¾ |
| Cattle | -1.73 | 143.25 | 128.30 |
| Hogs | +6.15 | 113.00 | 81.80 |
| Cotton | +4.13 | 86.51 | 86.50 |
| Milk | +.50 | 22.65 | 17.06 |
| Crude Oil | -.01 | 102.58 | 91.56 |
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Comments: Concerns about the tensions between Russia and Ukraine dominated trade in grain futures much of the week, pushing corn and wheat futures to their highest levels in months along with technically-driven fund buying.
Although operations at Black Sea grain export ports were not affected, a lack of new export sales from Ukraine boosted hopes for U.S.
corn and wheat exports.
Wheat futures found added support from concerns about freeze damage to the U.S.
winter wheat crop.
A large weekly U.S.
export sales total reported added support for corn futures, while increased producer selling in the cash market capped futures gains.
Soybean futures also found support from worries war could break out in Ukraine, but were mainly driven higher again by tightening U.S.
supplies and concerns about adverse weather in Brazil.
Overbought technical indicators did nothing to stop the incredible rally in hog futures, which took front-end futures to all-time highs as a drop off in hog supplies and continued strong pork demand squeezed cash prices higher.
Concerns about PEDv-related losses mounted and technical buying continued.
Live cattle futures rose with hogs early in the week, but then reversed hard on Wednesday as lower-than-expected cash trade developed in Plains markets.
Expectations for a seasonal increase in market-ready cattle supplies also weighed on futures.
Cotton futures were driven higher by expectations for USDA to cut its old-crop carryout and strong weekly export shipments.
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