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August 25, 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 or email AudreyE@AgriMarketing.com for advertising. |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -¼ | 3.65 ½ | 4.87 ½ |
| Soybeans | +.63 ½ | 11.66 | 13.22 |
| Wheat | +¾ | 5.52 | 6.30 ½ |
| Cattle | +1.25 | 151.85 | 123.35 |
| Hogs | -1.47 | 92.88 | 85.83 |
| Cotton | +3.86 | 67.46 | 83.95 |
| Milk | +.07 | 22.23 | 17.91 |
| Crude Oil | -1.67 | 93.65 | 105.03 |
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Comments: Last week was a choppy one in the grain/soybean markets with traders focusing on U.S.
weather and yield estimates out of an annual Midwest crop tour.
Corn futures remained in a sideway pattern on ideas that a record U.S.
crop was already factored into the market continued to spur speculative short covering and bargain hunting.
While nearby Sep.
soybean futures rallied sharply amid tight supplies in the spot cash market, deferred soybean contracts continued to edge to new contract lows under pressure from expectations for a record U.S.
crop.
Wheat futures action was extremely choppy with developments in Ukraine remaining a market wildcard that rallied prices on a couple of occasions despite pressure on prices from large world stocks and a strong U.S.
dollar, which dimmed U.S.
export prospects.
Livestock futures action was mixed with live cattle futures rallying on support from ideas the market was oversold and expectations for USDA to report low July feedlot placements.
Placements came in slightly higher than expected, but were still the smallest in at least 18 years.
Lean hog futures lost more ground as wholesale pork prices continued to tumble and packers had little difficulty covering slaughter needs.
Cotton futures rallied on concerns about deteriorating U.S.
crop conditions and technically-driven short covering.
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