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June 15, 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 | - .07 ½ | 3.53 | 4.44 |
| Soybeans | + .02 ¼ | 9.40 | 14.15 ¼ |
| Wheat | - .13 ¼ | 5.03 ¾ | 5.85 ¼ |
| Cattle | - 0.38 | 152.45 | 146.00 |
| Hogs | - 3.08 | 78.05 | 115.97 |
| Cotton | + 0.06 | 64.07 | 85.62 |
| Milk | + 0.06 | 16.76 | 21.29 |
| Crude Oil | + 0.83 | 59.96 | 106.53 |
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Comments: Grain and soybean futures were mostly lower, led by wheat, which fell on weak export demand and a negative USDA supply/demand report.
USDA reaffirmed that supplies are comfortable, and raised its hard red winter wheat crop estimate despite concern about excessive rain in the southern Plains.
Corn was also down on the week, as the trade is not yet convinced soggy weather across the western Corn Belt will have a big impact on the overall supply picture.
Most soybean contracts were lower with the exception of nearby July, as the market failed to rally on a friendly USDA report that cut U.S.
ending stocks estimates more than expected.
USDA left the cotton balance sheet unchanged and futures were up slightly on the week, but came under pressure Thursday on news that China would start selling supply from its huge stockpile this year.
In the livestock complex, lean hog futures extended their slump, tumbling to fresh multi-week lows on ample hog supplies and technical selling.
Although wholesale pork prices were actually firm during the week, cash hog prices continued to slip as packers are having little trouble filling needs.
Live cattle futures surged to their highest level in more than five months on Wednesday but tumbled Thursday and Friday on indications that cash trade would be weaker.
Cash cattle prices were indeed lower on Friday, for the second week in a row.
Tight overall cattle supplies are being offset by demand concerns, and wholesale beef prices for the week were weaker.
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