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June 9, 2014
In the News
The next issue of Agri Marketing will include its annual Ag/Rural Show Guide...plus a Salute to the Ag Media Summit. For more information, contact Audrey Evans at AudreyE@AgriMarketing.com or call 515/954-8589
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.04 ¾ | 4.59 | 6.63 ¼ |
| Soybeans | -.58 ½ | 14.57 | 15.27 ¼ |
| Wheat | -.09 | 6.18 ¼ | 6.97 ¾ |
| Cattle | +2.33 | 140.13 | 120.45 |
| Hogs | +1.23 | 114.58 | 97.30 |
| Cotton | -1.49 | 84.78 | 84.87 |
| Milk | +.41 | 21.24 | 18.06 |
| Crude Oil | -.05 | 102.66 | 94.76 |
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Comments: Grain and soybean futures remained under pressure most of last week with favorable weather across the main U.S.
corn and soybean growing belt the dominant fundamental factor.
Wheat futures also continued to feel pressure from stiff competition in the world export market with the European Union, Russia and Ukraine all expected to harvest large wheat crops.
Corn and wheat futures reversed higher on Friday, erasing a good portion of their earlier losses as weather models showed potential for a high pressure ridge to build over the western Corn Belt next week, but those forecasts moderated over the weekend.
Old-crop corn and soybean futures were also pressured by fading demand with spot soybean basis bids weakening at many U.S.
locations on top of futures weakness.
Livestock futures generally had a strong week with front-end live cattle futures boosted by their discount to firm U.S.
cash markets and prospects for tighter supplies by fall.
Lean hog futures rallied on wholesale pork market strength and signs that U.S.
cash hog prices have bottomed out again with supplies tightening seasonally and packers enjoying decent operating margins.
Cotton futures found early-week support from speculative profit taking, but faded after midweek on forecasts for another round of beneficial rains in West Texas cotton areas.
The rains arrived over the weekend.
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