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June 23, 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 | +.06 ¼ | 4.53 ¼ | 6.73 ¼ |
| Soybeans | -.09 ¼ | 14.15 ¾ | 14.97 ½ |
| Wheat | -3/4 | 5.85 ¼ | 7.00 ½ |
| Cattle | -.05 | 147.55 | 119.95 |
| Hogs | +2.85 | 127.83 | 100.25 |
| Cotton | -1.82 | 88.16 | 84.92 |
| Milk | +.05 | 21.35 | 18.01 |
| Crude Oil | -.66 | 106.83 | 95.14 |
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Comments: Grain and soybean futures turned choppy last week with concerns about excessive rains and flooding in the western Midwest limiting selling interest.
Corn futures also found support from technically oversold conditions and managed to break a five-week losing streak, but could not gain significant upward momentum with the U.S.
crop rating the best for mid-June in 20 years.
Nearby soybean futures slumped a bit further with end-user demand for old-crop supplies drying up amid prospects for a record new crop.
However, new-crop futures firmed on bull spread unwinding, despite a strong U.S.
crop rating.
Wheat futures tried to rally, but could not build upward momentum in the face of large world stocks.
Concerns about the quality of the U.S.
winter wheat crop supported prices along with oversold conditions and Saudi Arabia's large import tender.
Livestock futures were generally steady to higher with lean hog contracts boosted by rising cash prices and expectations for supplies to tighten further due to PEDv-related pig losses.
Live cattle futures were choppy amid position evening ahead of Friday's USDA Cattle-on-Feed report.
The report confirmed May feedlot placements were down from last year, pointing to tighter fed cattle supplies late this year.
Expectations for seasonal beef price weakness were a negative factor.
Cotton futures lost ground as concerns about tight old-crop stocks faded with further rains in Texas boosting the new-crop outlook.
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