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September 15, 2014
In the News
Nominations for Agri Marketing's Product of the Year are now open. For more information go here. |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.17 ½ | 3.38 ½ | 4.66 ¼ |
| Soybeans | -.36 ¼ | 9.85 ½ | 13.96 |
| Wheat | -.35 ¼ | 5.00 | 6.53 |
| Cattle | -1.92 | 156.28 | 124.83 |
| Hogs | +2.90 | 105.70 | 90.20 |
| Cotton | +4.53 | 70.61 | 85.88 |
| Milk | +.24 | 24.52 | 18.17 |
| Crude Oil | -1.02 | 92.27 | 108.60 |
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Comments: Grain and soybean futures came under increased pressure last week as USDA confirmed larger U.S.
corn and soybean crops, and large U.S.
and world grain/soybean ending stocks on Thursday.
While expectations for larger U.S.
crop production were high going into the report, USDA's estimates were met with further selling.
USDA pegged U.S.
corn production at 14.395 billion bushels, up 363 million from August and 107 million above the average of trade expectations.
U.S.
soybean production was pegged at 3.913 billion bushels, up 97 million from August and 30 million above the average of trade expectations.
Wheat futures also saw bad news from USDA as the agency raised its forecasts for U.S.
and world wheat ending stocks more than expected.
Added pressure on grain/soybean prices last week came from a strong dollar and fading worries about a possible late week freeze in the U.S.
Midwest.
Midwest growing areas generally saw only spotty frost over the weekend.
Livestock futures action was mixed last week with live cattle futures falling under pressure from speculative profit taking and demand concerns spurred by plunging packer operating margins.
Nearby lean hog futures were strong on support from rising cash hog/wholesale pork prices, but deferred months ended well off their weekly highs amid prospects for larger hog supplies next week.
Cotton futures rallied as USDA cut its U.S.
crop estimate more than expected.
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