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August 18, 2014
In the News
Nominations for Agri Marketing's Product of the Year now open. Go here.
Readex Research will measure the ads in the September issue of Agri Marketing!
Contact Audrey Evans at 515-954-8589 for advertising. |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.14 | 3.65 ¾ | 4.81 ½ |
| Soybeans | -11 ¼ | 11.02 ½ | 12.88 ½ |
| Wheat | +.02 | 5.51 ¼ | 6.37 ½ |
| Cattle | -1.95 | 150.60 | 123.70 |
| Hogs | -4.38 | 94.35 | 87.30 |
| Cotton | -.21 | 63.60 | 91.64 |
| Milk | +.39 | 22.16 | 18.04 |
| Crude Oil | -.30 | 97.35 | 107.33 |
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Comments: Corn futures were in the spotlight in the grain/soybean complex last week as they posted five straight higher closes on support from speculative short covering spurred by ideas that large U.S.
production is factored into the market.
USDA's crop estimate of 14.032 billion bushels helped spur the short covering as it was toward the low end of trade expectations.
Corn gains were modest though as favorable U.S.
growing weather continued to cap buying interest spurred ideas USDA's crop estimate will rise.
Soybean futures were pressured by large supplies and beneficial rains in parts of the U.S.
Midwest.
USDA's estimate of 2014/15 soybean ending stocks rose 15 million bushels from July to 430 million.
Wheat futures trade was choppy with prices coming under renewed pressure from ample U.S./World supplies after USDA raised its forecast for 2014/15 world wheat production by 1.5% to a record high.
However, heightened tensions in Ukraine rallied wheat futures on Friday.
Livestock futures were hit by further pressure from speculative long liquidation amid continued deterioration in cash fundamentals, including a 10.6% drop in the composite pork cutout value over the course of the week.
Live cattle futures followed the lean hog market lower as worries about demand mounted despite relatively modest weakness in wholesale beef prices.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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