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February 9, 2015
In the News
The next issue of Agri Marketing will feature a Salute to BASF on its 150th anniversary! Plus a Focus Report on the Dairy market. To schedule your firm's ad, contact Audrey Evans: 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 | +.15 ¾ | 3.85 ¾ | 4.43 |
| Soybeans | +.12 ½ | 9.73 ½ | 13.25 ¾ |
| Wheat | +.24 ¼ | 5.27 | 5.80 ¾ |
| Cattle | +2.23 | 156.08 | 139.55 |
| Hogs | -3.60 | 63.88 | 86.50 |
| Cotton | +2.23 | 61.59 | 86.31 |
| Milk | -.12 | 15.88 | 23.21 |
| Crude Oil | +3.45 | 51.69 | 97.84 |
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Comments: Grain and soybean futures rebounded moderately last week with help from a broad Tuesday wave of fund buying spurred by a surge in crude oil prices and a weaker dollar.
Soybean futures slipped back from their Tuesday highs, though, amid renewed fundamental pressure from large South American production prospects and corn futures were unable to extended gains amid slowing corn-for-ethanol demand.
Wheat futures were the strongest link in the grain/soybean complex as they picked up added support from hopes that Egypt will soon tender for U.S.
wheat to take advantage of a U.S.
credit offering, but wheat gains were still capped by large world supplies and uncompetitive U.S.
export prices.
It was another mixed week for livestock futures as live cattle futures shook off pressure from USDA's larger-than expected U.S.
cattle herd estimate to move higher again with help from stronger Plains cash prices and commodity fund technical buying.
Cattle gains were limited by beef market weakness.
Lean hog futures, however, plunged further with the nearby contract making new 5-year lows under pressure from continued weakness in cash fundamentals amid ample hog supplies.
Cotton futures rallied further on support from expectations for lower 2015 acreage and good U.S.
export sales.
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