|
|
|
|
|
|
June 16, 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
|
|
|
|
|
|
 | presents WEEKLY COMMODITY HIGHLIGHTS |
|
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.12 | 4.47 | 6.435 |
| Soybeans | -.3175 | 14.25 | 15.1025 |
| Wheat | -.3225 | 5.86 | 6.855 |
| Cattle | +7.47 | 147.60 | 119.85 |
| Hogs | +2.02 | 124.98 | 98.65 |
| Cotton | -2.20 | 86.98 | 91.72 |
| Milk | +.06 | 21.30 | 18.00 |
| Crude Oil | -4.25 | 106.91 | 96.69 |
| 
|
Comments: Grain and soybean futures continued to sell off last week as strong U.S. corn and soybean crop conditions and favorable weather forecasts continued to weigh heavily on prices.
Corn futures also felt pressure on the demand side as China’s suspension of U.S. Distillers Dried Grains imports sent prices for the corn ethanol byproduct tumbling at markets across the Midwest.
Old-crop soybean futures fell despite a slightly tighter U.S. carryout forecast from USDA as end user demand faded in the spot market amid growing expectations for a record 2014 crop.
Downward pressure on wheat futures stepped up after USDA raised its U.S. and world wheat carryout forecasts despite lowering its U.S. winter wheat crop estimate.
Stiff export competition from the European Union and the Black Sea region remained a negative market factor.
It was a big week for the cattle market as live cattle futures surged to new contract highs on stronger-than-expected cash trade and technically-driven fund buying.
Feeder cattle futures extended to new all-time record highs on tightening supplies and lower corn prices.
Lean hog futures were boosted by cash hog market strength and the surge in cattle futures.
Cotton futures lost ground as USDA raised its old and new-crop carryout forecasts and West Texas cotton areas saw more beneficial rains.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
|
