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April 13, 2015
In the News
The May issue of Agri Marketing will include Salutes to NAMA's Ag Biz Leader ZOETIS' Clint Lewis and Marketer of the year Paul Redhage. Plus ag's largest agencies. For more info, contact Audrey Evans at 515/954-8589 or e-mail AudreyE@AgriMarketing.com.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.09 ½ | 3.77 | 5.01 ¼ |
| Soybeans | -.34 ½ | 9.51 | 14.82 ¼ |
| Wheat | -.09 ¾ | 5.26 ½ | 6.62 ¼ |
| Cattle | -4.23 | 158.80 | 144.00 |
| Hogs | -.63 | 62.45 | 125.18 |
| Cotton | +1.37 | 65.06 | 89.02 |
| Milk | +.10 | 15.69 | 23.96 |
| Crude Oil | +2.50 | 49.14 | 103.40 |
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Comments: Grain and soybean futures came under renewed pressure from large U.S./world supplies and a strong dollar last week as Thursday's USDA monthly supply/demand update failed to provide any supportive surprises.
Soybean futures suffered most under pressure from indications of dwindling export demand for U.S.
soybeans in the face of the record South American harvest.
Talk of slowing Chinese demand also weighed on prices.
The 15-million-bushel cut to USDA's U.S.
soybean carryout matched trade expectations.
Corn futures did a slow grind lower under pressure from large supplies, with concerns about planting delays in southern growing areas limiting losses.
USDA's corn carryout estimate rose 50 million bushels, but was on the low side of trade expectations, which also limited selling.
Wheat futures retreated on forecasts for improved rainfall in the Plains and slow export demand, finding limited support from a 7-million-bushel cut to USDA's U.S.
carryout forecast.
Live cattle futures collapsed late in the week under pressure from demand worries spurred by weaker Plains cash markets and signs wholesale beef prices had topped out.
Commodity fund technical selling extended losses.
Live cattle sold for $3-$4 lower than a week earlier in Plains markets and sales were light.
While nearby lean hog futures edged lower under pressure from their premium to cash, deferred months continued to rally on commercial buying/short covering and expectations for hog supplies to tighten seasonally into summer.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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