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October 6, 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 | + 1/4 | 3.23 ¼ | 4.43 ¼ |
| Soybeans | +.02 | 9.12 ¼ | 12.95 |
| Wheat | +.11 ½ | 4.85 ¾ | 6.87 |
| Cattle | +3.95 | 162.40 | 128.05 |
| Hogs | -.93 | 105.60 | 91.85 |
| Cotton | +.59 | 63.07 | 85.83 |
| Milk | -.02 | 24.27 | 18.14 |
| Crude Oil | -3.80 | 89.74 | 103.84 |
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Comments: Selling pressure eased in the corn and soybean markets last week as bears took at least a temporary break amid technically oversold conditions and Midwest harvest delays.
Soybean prices also found some support from a lower-than-expected Sept.
1 stocks total, which pointed to stronger-than-expected usage, but Sept.
1 corn stocks were above the average of trade estimates indicating weaker usage.
Both markets were able to break their weekly losing streaks, but just barely, as huge new-crop supplies kept a tight lid on buying interest along with a strong dollar.
Wheat futures rose for the second week in a row, despite the strong dollar, larger-than-expected Sept.
1 stocks and favorable HRW wheat planting conditions in the U.S.
Plains.
Russia's withdrawal from the world wheat market amid high domestic prices remained a supportive market factor.
Live cattle futures stampeded higher, continuing a rally that began the previous Friday on active fund buying amid expectations for very tight supplies this winter.
Nearby lean hog futures softened amid expectations for seasonal supply increases, but deferred contracts held firm despite the indications of U.S.
herd expansion in the Sept.
26 USDA inventory report.
Cotton futures were firm despite the strong dollar, on support from strong export sales and the lack of sizeable deliverable stocks.
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