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December 15, 2014
In the News
The Agri Marketing crew is working on the annual Marketing Services Guide. To schedule your organization's ad, 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 | +.12 ½ | 4.07 ½ | 4.34 ¼ |
Soybeans | +.11 ¼ | 10.47 ¼ | 13.26 ¾ |
Wheat | +.12 ½ | 6.06 ½ | 6.33 ¾ |
Cattle | -2.40 | 162.05 | 132.25 |
Hogs | -2.38 | 83.25 | 88.00 |
Cotton | Unch. | 60.54 | 83.06 |
Milk | -.05 | 17.75 | 18.92 |
Crude Oil | -8.03 | 57.81 | 97.50 |
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Comments: Grain and soybean futures climbed last week on commodity fund buying despite significant weakness in many other markets, including the further steep drop in crude oil prices.
Favorable crop weather in South America also could not stop corn and soybean contracts from rising.
Corn futures found further fundamental support from signs of improved demand including another record high weekly ethanol production total and solid weekly export sales.
Soybean futures also continued to find support from bullish demand sentiment with USDA raising its U.S.
export forecast for 2014/15 by 40 million bushels and cutting carryout by the same amount on Wednesday.
Wheat futures were supported by renewed concerns that Russia will cap exports, triggered by Thursday comments from that country's agriculture minister to a committee of parliament.
Earlier in the week, the wheat market had been pressured by an unexpected 2-million-metric-ton increase in USDA's world wheat carryout.
Livestock futures came under further pressure from demand concerns and technically-driven commodity fund liquidation of long positions.
Lean hog futures lost ground for the fourth straight week, while live cattle futures made it three straight losing weeks.
Declining wholesale beef prices and mild Plains weather helped sink the live cattle market further.
Cotton futures bounced back from early-week pressure with help from a smaller U.S.
carryout estimate from USDA.
USDA raised its world carryout again though.
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