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June 1, 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 | - .08 ½ | 3.51 ½ | 4.69 ½ |
| Soybeans | +.09 ¾ | 9.34 | 14.99 |
| Wheat | - .38 ¼ | 4.77 | 6.32 ½ |
| Cattle | + 0.20 | 152.33 | 138.03 |
| Hogs | + 0.10 | 83.83 | 114.30 |
| Cotton | + 1.05 | 64.35 | 86.15 |
| Milk | unch. | 16.22 | 22.53 |
| Crude Oil | + 0.58 | 60.30 | 103.58 |
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Comments: Corn stayed on the defensive last week, sliding to fresh contract lows as the supply outlook remains favorable.
Despite scattered problems, overall weather conditions have been good, with ample rainfall and a lack of temperature extremes.
On the demand front, ethanol output is strong and stockpiles are sliding on a surge in gasoline demand.
Wheat futures were also lower, pressured by weak export demand and profit-taking after gains earlier in the month.
Soybean futures also fell to new contract lows but rebounded to post a weekly gain, aided in part by a rally in soybean oil as the EPA raised its biodiesel mandate in the Renewable Fuel Standard.
Cotton was higher amid concern about West Texas planting following a soggy May.
In the livestock complex the big mover was feeder cattle futures, which surged by nearly $4 to their highest price since early January on the bearish outlook for corn and improved pasture conditions.
Live cattle futures were up slightly, with the upside limited by a slump in wholesale beef prices.
Cash cattle trade was steady to $1 lower in the southern Plains.
In lean hogs, nearby futures posted modest gains and remain in a sideways trajectory.
Wholesale pork prices were weaker as production remains higher than expected, and seasonally the upside in the cash hog market should be limited at this stage.
Deferred hog contracts were weaker on expectations of larger supplies later in the year.
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