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May 12, 2014
In the News
The next issue of Agri Marketing will feature focus reports on Premium Incentives, marketing to Pork producers and NAMA's Best of Show winners! To place your organization's ad, contact Audrey Evans at 515-954-8589; 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 | +.11 | 5.05 | 6.94 ½ |
| Soybeans | +.20 ¼ | 15.01 | 14.91 ¼ |
| Wheat | +.07 ¼ | 7.14 | 7.16 ¼ |
| Cattle | Unch. | 138.05 | 120.55 |
| Hogs | -1.55 | 114.68 | 92.00 |
| Cotton | -.90 | 92.36 | 87.92 |
| Milk | -.04 | 22.71 | 18.58 |
| Crude Oil | +.23 | 99.99 | 96.39 |
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Comments: Grain and soybean futures posted modest gains on the week amid concerns about U.S.
corn and soybean planting conditions, a deteriorating U.S.
winter wheat crop and tight soybean supplies.
However, corn futures gave back a big chunk of their earlier gains on Friday and posted bearish reversals on their daily price charts after USDA forecast next year's U.S.
and world corn ending stocks above trade expectations on a record U.S.
corn crop.
A lower-than-expected U.S.
carryout estimate for 2013-14 failed to support prices.
Soybean futures ended the week on a strong note with USDA lowering its old-crop U.S.
carryout further despite raising projected imports.
Wheat futures were supported early in the week by record temperatures in the U.S.
Plains, but faltered Friday amid an absence of fresh bullish news from USDA.
U.S.
winter wheat production was forecast 9% lower than last year.
Livestock futures had another mixed week with the front-end lean hog contracts continuing to feel pressure from softening cash hog/wholesale pork prices and negative packer operating margins.
Deferred hog contracts continued to find support from PEDv-related supply uncertainty.
Live cattle futures were pressured by lower wholesale beef prices, but found support from their discount to Plains cash markets.
Cotton futures turned lower on Friday as USDA raised its 2013-14 U.S.
and world carryout forecasts.
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