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June 2, 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 | -.12 ¼ | 4.63 ¾ | 6.54 ¼ |
| Soybeans | -.22 ¼ | 15.15 ½ | 14.95 ¾ |
| Wheat | -.24 ¼ | 6.27 ¼ | 6.98 ¾ |
| Cattle | +1.50 | 137.80 | 120.35 |
| Hogs | -3.50 | 113.35 | 95.33 |
| Cotton | -.04 | 86.27 | 79.36 |
| Milk | +.05 | 22.63 | 18.40 |
| Crude Oil | -1.64 | 102.71 | 93.61 |
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Comments: Grain futures continued to sell off last week and soybean futures set back as well as that market started paying a bit more attention to a potential record U.S.
crop and less to tight old-crop stocks.
Faster-than-normal U.S.
planting progress was a bearish factor in the soybean market along with a widening soybean/corn ratio that could attract more bean acres in northern U.S.
growing areas where corn planting was delayed.
Wheat futures posted significant losses for the third week in a row under pressure from technical weakness, anticipation of the U.S.
winter wheat harvest and stiff export competition.
Indications of a bumper Chinese crop helped Chicago July SRW wheat futures close lower for the sixteenth time in seventeen sessions on Friday.
In the corn market, good crop emergence and favorable weather conditions across the U.S.
Corn Belt dominated trade with 88% of the U.S.
crop planted.
Livestock futures action was mixed with live cattle futures rallying on strong cash cattle movement in U.S.
Plains markets and rising feeder cattle prices.
Lean hog futures, meanwhile, sold off under pressure from continued high U.S.
hog weights and front-end futures' premium to cash prices.
Cotton futures found some stability as selling spurred by recent rains in Texas subsided and speculative profit taking on short positions set in.
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