Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .21 ½ | 3.71 | 3.67 ¾ |
| Soybeans | - .10 ½ | 9.80 ¾ | 12.36 ½ |
| Wheat | - .12 ½ | 4.99 ¼ | 5.34 ¾ |
| Cattle | + 2.68 | 145.70 | 159.05 |
| Hogs | + 0.83 | 78.50 | 123.68 |
| Cotton | - 1.83 | 64.01 | 65.36 |
| Milk | - 0.03 | 16.28 | 21.53 |
| Crude Oil | - 1.02 | 47.12 | 101.67 |
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Comments: Grain and soybean futures suffered further losses amid favorable U.S.
weather conditions and broad-based commodity selling.
Corn opened sharply lower for the second week in a row and never recovered, falling to their lowest level in more than a month.
Soybeans opened the week lower and did recover at midweek, but the market was on its heels again by week's end.
In both markets, seasonable temperatures and a lack of extreme rains are weighing.
Wheat futures were also on the defensive, pressured by the soft red winter wheat harvest, favorable harvest reports out of the Black Sea region, and the spring wheat crop tour in North Dakota, which confirmed a strong crop.
Cotton was higher in nearby October but lower in most-active December futures in volatile trade.
Rice was the top performer in the crop complex, surging to a seven-month high on technical buying and concern about how El Nino will impact global production.
Live cattle futures fell to five-month lows early in the week on pressure from the monthly Cattle on Feed report but then rebounded, climbing amid short-covering and firmer wholesale beef prices.
Beef prices were down sharply for the month but have slowly started to climb, and traders are anticipating a seasonal low both in beef and cattle prices.
Expectations of higher cash cattle trade underpinned the market this week.
Although it didn't emerge until Friday afternoon, it was indeed bullish, at $147-148 in the Plains, up $2-3 from the prior week.
Lean hog futures trade was choppy throughout the week but ultimately higher, supported by futures' discount to cash and firm wholesale pork prices.
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