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July 13, 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 | 4.27 ¼ | 4.00 ½ |
| Soybeans | - .01 ¾ | 10.43 ½ | 13.29 ¾ |
| Wheat | - .04 ¼ | 5.81 ½ | 5.36 ¾ |
| Cattle | - 3.75 | 147.48 | 148.15 |
| Hogs | + 0.20 | 78.98 | 132.80 |
| Cotton | - 2.06 | 65.51 | 68.90 |
| Milk | + 0.36 | 16.47 | 21.39 |
| Crude Oil | - 4.19 | 52.74 | 102.93 |
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Comments: Corn futures were higher, driven by speculative buying amid concern about U.S.
crops as much of the central and eastern Corn Belt continues to see too much rain.
The forecast calls for gradually improving conditions over the next couple weeks and favorable pollination weather, but the relentless rainfall has already taken a toll both on corn and soybeans in many areas.
Soybeans were lower in what was a week of consolidation.
Friday's USDA supply and demand report was friendly for corn and downright bullish for soybeans, as it showed greater soy usage than expected and implied that USDA had overestimated the size of the 2014 crop.
The report was bearish for wheat however, due mainly to a huge increase in world ending stocks.
The downside in wheat has been limited by the strength in corn and soybeans recently.
Cotton futures were down on the week amid worries about Chinese demand and a Friday USDA report indicating that acreage losses in Texas from spring rains will be offset by yield gains.
Rice futures climbed to a three-month high.
Live cattle futures stumbled, retreating during the week on weak beef demand and technical selling as the August contract fell to its lowest level in more than two months on Friday.
Futures have been pressured by a relentless drop in Boxed Beef values, which fell by more than $10 on the week.
This has pushed packer margins into the red.
Cash cattle trade last week was mostly steady.
Feeder cattle futures also spent the week on the defensive, due in part to strength in corn.
Lean hog futures were mostly lower except for the nearby July contract, pressured by technical selling and expectations of weaker cash prices as packer margins weakened. |
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