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June 8, 2015
In the News
The next issue of Agri Marketing will include its annual Ag/Rural Show Guide. To reserve your ad space, 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 | + .09 | 3.60 ½ | 4.49 |
| Soybeans | + .03 ¾ | 9.37 ¾ | 14.60 ½ |
| Wheat | + .40 | 5.17 | 6.05 ¾ |
| Cattle | + 0.50 | 152.83 | 139.50 |
| Hogs | - 2.15 | 81.68 | 112.97 |
| Cotton | - 0.34 | 64.01 | 85.50 |
| Milk | - 0.12 | 16.70 | 21.37 |
| Crude Oil | - 1.17 | 59.13 | 102.48 |
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Comments: Grain futures ended higher for the week, led by wheat, which gained on short-covering and uncertainty about the hard red winter wheat crop in the southern Plains due to the excessively wet spring.
Corn was up on the week and posted a bullish reversal higher on the weekly chart in the December contract.
Soybeans were up slightly.
The crop outlook remains mostly favorable for U.S.
corn and soybeans, with warm temperatures and ample rains in most areas expected to continue.
The trouble spot remains the southwest Corn Belt, where excessive rains have caused some flooding and are raising the possibility some soybeans will go unplanted.
The demand side is mostly quiet.
Weekly ethanol production continues to increase as gasoline demand improves.
Cotton ended lower on the week on technical selling.
In the livestock complex, lean hog futures stumbled on ample hog supplies and pressure from the cash market, along with technical selling as the market broke to its lowest level since late April.
Live cattle futures were up slightly on the week despite tumbling beef prices.
USDA's boxed beef reports showed that Choice fell by 4%, or more than $10 on the week, while Select was down $2.94.
The drop in beef prices raises questions about summer demand and has put considerable pressure on packer margins.
Cash cattle trade was very light as packers were unwilling to pay steady prices for market-ready cattle.
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