Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .14 ½ | 4.20 ¼ | 3.79 ½ |
| Soybeans | - .17 ¼ | 10.14 ¾ | 11.74 ¾ |
| Wheat | - .22 | 5.54 | 5.50 ¾ |
| Cattle | - 0.83 | 146.65 | 150.65 |
| Hogs | + 2.03 | 75.68 | 128.85 |
| Cotton | + 0.36 | 65.87 | 68.45 |
| Milk | - 0.16 | 16.31 | 21.51 |
| Crude Oil | - 1.85 | 50.89 | 103.19 |
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Comments: Corn futures hit a 12-month high on Tuesday but retreated from there, ending lower on the week as the weather outlook for the Corn Belt, while not ideal, has started to improve.
Drier conditions in parts of the Corn Belt and a lack of significant heat in the forecast for pollination weighed on the market.
Soybean futures also retreated from Tuesday highs, amid technical selling and warmer temperatures that are helping crop development.
Yield and acreage losses for corn and soybeans will be a subject of debate for the next several weeks.
Wheat futures stumbled amid ongoing signs of poor export demand and harvest pressure.
Not only did the U.S.
fail to win any business in the latest Egyptian wheat tender, Mexico also bypassed the U.S., buying some wheat from France.
Cotton was mixed, with thinly traded October futures ending higher while December cotton was down on favorable U.S.
crop conditions.
Rice futures were lower amid profit-taking after recent gains.
Live cattle futures fell, grinding lower throughout the week on demand concerns and technical selling.
Beef demand remains an issue, as Boxed Beef values fell again throughout the week and are down nearly $20 since the start of the month.
This continues to pressure packer margins, and cash cattle trade was weaker last week, with trade at $148 in Texas and Kansas down $2 from the prior week.
Feeder cattle futures were higher however, driven by futures' big discount to cash and the decline in corn prices.
Lean hog futures tumbled early in the week to new contract lows but rebounded strongly amid short-covering and firm cash prices, ending higher on the week. |
