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June 30, 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 | -.10 ¼ | 4.43 | 6.67 ¼ |
| Soybeans | +.16 ¼ | 14.32 | 15.48 ½ |
| Wheat | Unch.
| 5.85 ¼ | 6.63 ½ |
| Cattle | +4.70 | 152.25 | 121.15 |
| Hogs | +3.07 | 130.90 | 101.98 |
| Cotton | -7.27 | 80.89 | 83.13 |
| Milk | +.01 | 21.36 | 18.04 |
| Crude Oil | -1.09 | 105.74 | 97.05 |
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Comments: Last week was another choppy one for grain and soybean futures as traders evened positions ahead of the June 30 USDA Crop Acreage and Grain Stocks reports.
Favorable crop ratings and mostly non-threatening weather forecasts kept pressure on corn futures, but soybean futures bounced on renewed support from tight old-crop supplies as U.S.
exporters continued to make sales for 2013/14 delivery.
Wheat futures ended the week little changed as concerns about U.S.
winter wheat crop quality continued to be offset by ample world wheat stocks and stiff export competition from other Northern Hemisphere growing nations.
Monday's USDA reports turned out bearish for corn, soybean and wheat prices as USDA pegged soybean plantings above expectations and put spring wheat acreage higher than expected, while showing corn acres little changed from the March 1 intentions and reporting old-crop stocks near the high end of trade estimates.
Livestock futures were supported by strong cash price action last week as choice beef and live cattle prices rose to new highs along with wholesale pork prices.
Deferred lean hog futures were pressured by expectations for herd expansion, but Friday afternoon's USDA report showed no expansion and pegged market hog supplies below trade expectations, setting up limit-up futures gains on Monday.
Cotton futures collapsed last week with nearby July leading the way down on fresh rains in Texas and speculative long liquidation.
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