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January 12, 2015
In the News
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.04 ½ | 4.00 ¼ | 4.20 ½ |
| Soybeans | +.49 | 10.51 ½ | 12.87 |
| Wheat | -.17 ½ | 5.63 ¾ | 5.97 |
| Cattle | -5.08 | 160.60 | 135.63 |
| Hogs | -2.27 | 79.03 | 87.08 |
| Cotton | +1.18 | 60.76 | 84.04 |
| Milk | +.05 | 15.97 | 19.66 |
| Crude Oil | -4.33 | 48.36 | 95.44 |
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Comments:
Action in grain and soybean futures was mixed last week as traders positioned themselves ahead of the key USDA reports to be released today.
Soybean futures rebounded sharply, regaining the ground they lost the previous week on support from strong export demand, expectations for USDA to cut its U.S.
soybean carryout forecast and jitters about S.
American weather.
Corn futures edged higher on support from export demand, expectations for a cut in carryout and position evening, but gains were capped by falling ethanol production and a strong dollar.
Wheat futures lost more ground under pressure from sluggish export demand for U.S.
wheat and technically-driven selling.
This morning's reports were supportive for corn futures, negative for soybeans and mixed for wheat.
USDA cut U.S.
corn production and stocks more than most expected, but left U.S.
soybean stocks unchanged on higher production.
Wheat ending stocks were higher than expected, but U.S.
winter wheat seedings for 2015 harvest were lower than expected.
Last week was not a good one for livestock futures as live cattle and feeder cattle futures turned down sharply Thursday and Friday under pressure from improving Plains weather and commodity fund long liquidation despite firm cash fundamentals including a $3-$4 rise in cash live cattle prices and strong wholesale beef prices.
Lean hog futures remained under pressure from soft cash market fundamentals and expectations for larger pork production in 2015 to weigh on prices.
Cotton futures rallied slightly on expectations for lower cotton acreage in 2015 and improved weekly export sales.
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