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May 5, 2014
In the News
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.13 | 4.94 | 6.97 ½ |
| Soybeans | -.17 ¼ | 14.80 ¾ | 14.41 |
| Wheat | +.07 ½ | 7.07 ¾ | 7.18 ¾ |
| Cattle | +1.28 | 138.05 | 123.65 |
| Hogs | -3.70 | 116.23 | 91.30 |
| Cotton | +1.24 | 94.19 | 83.83 |
| Milk | +.05 | 22.75 | 18.69 |
| Crude Oil | -.84 | 99.76 | 93.99 |
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Comments: It was a mixed week in the grain futures markets again amid weather issues and continued tensions between Ukraine and Russia.
Corn futures started the week strong on slower-than-expected U.S.
planting progress, but then came under pressure late in the week from technically-driven commodity fund long liquidation, prospects for a window of improved Midwest planting conditions and signs of softening spot demand.
Wheat futures finished the week strongly, however, rallying Friday on a low yield estimate for the top U.S.
growing state of Kansas and forecasts for record high temperatures in the dry southern Plains, as well as increasing violence in Ukraine.
Soybean futures were firm much of the week, but were slammed on Thursday by heavy fund long liquidation amid talk of larger U.S.
imports and signs of slowing processor demand.
Livestock futures were also mixed last week with live cattle futures boosted by a friendly USDA Cattle-on-Feed report and soaring feeder cattle prices, despite some weakness in wholesale beef prices.
Action in lean hog futures was mixed with front-end contracts pressured by soft cash hog/wholesale pork prices, while August and more deferred contracts rallied on PED-related supply concerns.
Cotton futures remained strong on support from tight U.S.
stocks and the drought in West Texas cotton areas.
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