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May 19, 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 | -.24 | 4.83 ½ | 6.50 ¾ |
| Soybeans | -.22 | 14.65 | 14.12 ¾ |
| Wheat | -.48 ¼ | 6.74 ¼ | 6.93 ¾ |
| Cattle | -.15 | 137.90 | 120.00 |
| Hogs | -1.25 | 118.93 | 91.93 |
| Cotton | -2.54 | 89.82 | 86.45 |
| Milk | -.13 | 22.58 | 18.50 |
| Crude Oil | +2.03 | 102.02 | 94.30 |
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Comments: Grain futures collapsed last week with nearby wheat futures posting their worst week since late June of last year and corn futures posting their largest weekly drop since September.
Technically-driven fund long liquidation played a big part in the sell-off, but wheat futures felt fundamental pressure from rains in parts of the Plains, ample world supplies and slow U.S.
export sales for 2014-15.
Corn futures were pressured by rising crop expectations after U.S.
producers planted 30% of their intended acres during the week ended Sunday, pushing planting progress ahead of average.
Soybean futures also slipped as pressure from the weak grain markets and prospects for a record U.S.
crop outweighed support from tight old-crop supplies amid larger U.S.
imports.
Signs Chinese demand remains strong helped limit soybean losses.
Livestock futures had a choppy week with front-end cattle futures pushed lower by technical selling and position evening ahead of Friday's USDA Cattle-on-Feed report.
That report was friendly for prices, confirming April U.S.
feedlot placements were down from a year earlier.
Lean hog futures rallied strongly on Tuesday on firming pork prices and PEDv-related supply concerns, but then turned south under pressure from ample pork production and continued weakness in Midwest cash hog markets.
Cotton futures had a rough week, falling under pressure from technical weakness and USDA's larger old-crop cotton carryout forecasts.
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