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August 10, 2015
In the News
The September issue of Agri Marketing will include a focus report on the Fruit & Vegetable markets. Ads will be studied by Readex Research. To schedule your ad, contact Audrey Evans at AudreyE@AgriMarketing.com. Or call her at 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 | + .01 ¾ | 3.72 ¾ | 3.59 ½ |
| Soybeans | + .28 ¼ | 10.09 | 12.50 |
| Wheat | + .11 ¼ | 5.10 ½ | 5.61 ½ |
| Cattle | + 3.88 | 149.58 | 155.50 |
| Hogs | - 1.18 | 77.33 | 115.23 |
| Cotton | - 1.24 | 62.77 | 63.57 |
| Milk | + 0.06 | 16.47 | 21.76 |
| Crude Oil | - 3.25 | 43.87 | 97.34 |
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Comments: Grain and soybean futures were higher on the week, rebounding from sharp recent losses amid short-covering and some uneasiness about a dry weather outlook across the Midwest for August.
Soybeans showed the most strength and on Friday posted a bullish daily and weekly reversal, which could attract more speculative buying.
Most of the Midwest has dried out after a wet spring and early summer, and with the forecast calling for more dry weather, traders are worried about potential crop stress in some areas if rains don't arrive later in the month.
Weekly export sales totals were poor for both corn and soybeans, but were strong for wheat for the third week in a row.
Cotton futures tumbled on technical selling and a lack of Chinese demand, as the market fell below technical support to its lowest level in seven months.
Traders across the grain and oilseeds complex are awaiting Wednesday's key USDA supply and demand report.
Live cattle futures rallied on expectations of stronger cash cattle trade as packer margins improve along with a rebound in beef prices.
Those expectations for cash trade were confirmed late Friday, with trade of $150 in Texas and Kansas, up $3 from the prior week.
Wholesale beef prices are climbing slowly but steadily higher after tumbling throughout the month of July, although demand is still somewhat sluggish and pressured by its unfavorable ratio to pork.
Lean hog futures were down on the week on pressure from the cash hog market, which plunged on Thursday.
The pork carcass cutout value was up 3% on the week, which is helping to boost already stout packer margins.
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