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July 6, 2015
In the News
The next issue of Agri Marketing will include its annual Ag/Rural Show Guide and a Salute to the Ag Media Summit. 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 | + .34 ¾ | 4.19 ¾ | 4.17 |
| Soybeans | + .43 ¼ | 10.45 ¾ | 13.87 ¾ |
| Wheat | + .23 ½ | 5.85 ¾ | 5.68 |
| Cattle | + 2.70 | 151.23 | 155.00 |
| Hogs | + 3.33 | 78.78 | 131.73 |
| Cotton | - 0.80 | 66.36 | 76.22 |
| Milk | - 0.04 | 16.11 | 21.38 |
| Crude Oil | - 2.70 | 56.93 | 104.06 |
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Comments: Corn and soybean futures surged last week, driven by the USDA's June 30 reports, short-covering and technical buying.
The reports showed strong implied usage of corn and soybeans, as June 1 stocks were smaller than expected for both.
Acreage was also slightly lower than expected for corn and soybeans.
The quarterly stocks and acreage reports were bearish for wheat, but futures climbed anyway on spillover support from corn and ongoing troubles with the soft red winter wheat harvest.
Cotton was down on the week despite a big cut in the USDA's acreage estimate.
Rice acres were also cut, and futures broke out to their highest level in nearly three months.
U.S.
weather will be a key factor for grain and oilseed markets over the next few weeks.
Forecasts show no threatening heat wave, but excessive moisture remains a big concern in many areas.
In the livestock complex, live cattle traded erratically but ultimately higher for the week, with support from strong cash trade in the Plains as packers had a holiday-shortened marketing week to buy for a full slaughter schedule this week.
Strong packer margins and tighter market-ready cattle supplies also underpinned cash prices.
Lean hog futures also rallied, breaking a multi-week losing streak on speculative profit-taking.
The surge in corn and soybean prices helped dampen talk of herd expansion, and the pork complex is also enjoying some friendly news on the export side, as sales for the week ended June 25 hit a marketing year high.
Feeder cattle futures were pressured by the surge in corn prices and could not follow live cattle, ending near unchanged for the week.
Cash prices retreated during the week as the big premium to feeder cattle futures started to shrink.
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