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September 29, 2014
In the News
Nominations for Agri Marketing's Product of the Year are now open. For more information go here. The next issue will include a focus report on Ag/Rural Broadcasting! For more info, contact Audrey Evans at AudreyE@AgriMarketing.com; Ph: 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 | -.08 ½ | 3.23 | 4.56 ¾ |
| Soybeans | -.46 ¾ | 9.10 ¼ | 13.16 ¾ |
| Wheat | -1/4 | 4.74 ¼ | 6.78 ¼ |
| Cattle | +2.82 | 158.45 | 127.70 |
| Hogs | +.55 | 106.53 | 92.80 |
| Cotton | -3.51 | 62.48 | 84.50 |
| Milk | +.04 | 24.58 | 18.14 |
| Crude Oil | +1.89 | 93.54 | 103.03 |
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Comments: The record U.S.
corn and soybean crops continued to set the tone in grain and soybean markets last week with harvest activity picking up under near-ideal weather conditions across the U.S.
Midwest.
Soybean futures fell for the seventh straight week, while corn futures made it six consecutive losing weeks.
Soybean prices fell sharply again under pressure from tumbling U.S.
cash basis bids and technically-driven speculative selling.
Added pressure came from concerns about Chinese demand after Friday's news that China had halted its import approval process for an unnamed GMO soybean variety.
Corn futures, meanwhile, continued to grind slowly lower amid reports of strong yields and drop off in weekly U.S.
ethanol production, which raised some demand concerns.
Wheat futures chopped up and down in narrow price ranges last week as traders tried to gauge whether prices had fallen low enough to boost export demand for U.S.
wheat.
Favorable weather conditions in the U.S.
Plains and large world supplies kept a lid on prices.
Live cattle futures chopped sideways for most of the week before exploding to big gains on Friday on active commodity fund buying.
Expectations for tight fed cattle supplies this winter continue to support prices.
Nearby lean hog futures held firm amid firm cash market fundamentals, but deferred futures were pressured by indications of herd expansion.
Friday's USDA inventory report confirmed moderate herd expansion.
Cotton futures continued to plunge after China said it would cut its cotton import quota.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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