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October 13, 2014
In the News
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 | +.10 ¾ | 3.34 | 4.38 ¼ |
| Soybeans | +.10 ¼ | 9.22 ½ | 12.88 |
| Wheat | +.13 ¾ | 4.98 ½ | 6.85 ½ |
| Cattle | +2.50 | 164.90 | 128.30 |
| Hogs | +3.85 | 109.45 | 90.25 |
| Cotton | +1.63 | 64.10 | 83.17 |
| Milk | -.13 | 24.14 | 18.18 |
| Crude Oil | -3.92 | 85.82 | 103.01 |
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Comments: Grain and soybean futures rallied last week on support from position evening ahead of Friday's USDA reports, technically-driven fund buying and slow Midwest harvest progress.
However, corn and soybean contracts gave back a good portion of their earlier gains on Friday, reversing lower after the monthly USDA Crop Production report and supply/demand update failed to provide any strongly supportive news.
USDA's corn and soybean crop estimates were below the average trade estimates, but were still a bit larger than in September and confirmed burdensome supplies.
Trade expectations for production to grow further in coming reports quickly capped buying interest and hedge selling was also seen.
Wheat futures struggled to hold early-week gains amid beneficial rains in dry areas of the southern U.S.
Plains, but got an added boost when USDA cut its U.S.
carryout projection by 6.3% to 654 million bushels on stronger projected usage.
Livestock futures were strong much of the week with live cattle boosted by strong wholesale beef prices and a tight cattle supply outlook, but cattle futures did post bearish reversals Thursday as stock market weakness spurred economic concerns.
Nearby lean hog futures surged as they aligned with the CME cash hog index, but deferred futures chopped sideways amid prospects for rising supplies.
Cotton futures rebounded with help from lower U.S.
crop and ending stocks estimates from USDA.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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