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July 27, 2015
In the News
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .27 ¾ | 3.92 ½ | 3.61 ½ |
| Soybeans | - .23 ½ | 9.91 ¼ | 12.07 ½ |
| Wheat | - .42 ¼ | 5.11 ¾ | 5.28 ¾ |
| Cattle | - 3.63 | 143.03 | 156.55 |
| Hogs | + 2.00 | 77.68 | 123.20 |
| Cotton | - 0.03 | 65.84 | 66.40 |
| Milk | unch. | 16.31 | 21.53 |
| Crude Oil | - 3.07 | 48.14 | 102.07 |
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Comments: Corn and wheat futures fell sharply to start the week and never recovered, posting big losses amid drier conditions in the eastern Midwest and a favorable weather forecast lacking any extended heat threat in the Corn Belt.
By the end of the week corn, soybeans and wheat futures had all fallen to their lowest level in a month.
While the production outlook remains unclear because of excessive rains from Ohio to Missouri through the spring and early summer, favorable weather is now preventing further yield loss.
Meanwhile export bookings for the 2015-16 marketing year have been lackluster, with corn, soybean and wheat commitments all running well below year ago levels and far behind the pace needed to meet USDA projections.
Cotton futures were virtually unchanged for the week amid choppy trade and remain rangebound.
Cattle futures tumbled amid weak beef demand and lower cash cattle prices.
Live cattle fell to its lowest level in more than 4 months, pressured by the continued slump in wholesale beef prices.
With packer margins in the red, cash trade has continued to decline, with trade last week at $144-$145 in the southern Plains, down $2-$3 from the prior week.
Friday's Cattle-on-Feed and semi-annual Cattle Inventory reports were a little bearish for the market.
Cattle on Feed showed placements slightly above year-ago levels, while the inventory report confirmed the expansion of the U.S.
cattle herd is underway and suggested it is occurring faster than expected.
Feeder cattle futures fell on pressure from live cattle and declining cash prices.
Lean hog futures were higher on the week amid technical buying, although the upside is limited by ample hog and pork supplies.
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