|
|
|
|
|
|
August 17, 2015
In the News
The next issue of Agri Marketing will include a special report on Ag/Rural Broadcasting. Ads will be studied by Readex Research. To schedule your ad, please contact Audrey Evans at AudreyE@AgriMarketing.com. Or call her at 515-954-8589.
|
|
|
|
|
|
 | presents WEEKLY COMMODITY HIGHLIGHTS |
|
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .08 ¾ | 3.64 | 3.62 |
| Soybeans | - .30 ½ | 9.78 ½ | 12.24 ½ |
| Wheat | - .04 | 5.06 ½ | 5.37 ¼ |
| Cattle | - 1.13 | 148.45 | 150.00 |
| Hogs | - 1.20 | 65.33 | 114.83 |
| Cotton | + 4.39 | 67.16 | 63.89 |
| Milk | - 0.04 | 16.43 | 22.17 |
| Crude Oil | - 1.37 | 42.50 | 95.58 |
| 
|
Comments: Grain and soybean futures tumbled to new lows in the wake of the monthly USDA supply and demand report, which projected bigger crops and higher carryouts than expected for both corn and soybeans.
With the trade looking for lower crop yields, USDA actually raised its estimates for corn and soybeans.
This would leave burdensome supplies of new crop, although some traders are counting on USDA lowering its estimates as the season progresses and the damage done from an excessively wet spring becomes more apparent.
The USDA report was actually slightly friendly for wheat as production estimates were lower than expected, but the bearishness in corn and soybeans dragged wheat lower as well.
Corn, soybeans and wheat all posted bearish weekly reversals lower.
The cotton market moved in the opposite direction.
After breaking through support on Wednesday and setting a fresh seven-month low, the market soared after the USDA report, which included bullish downward revisions to the U.S.
crop and domestic carryout.
In the livestock complex, lean hog futures were lower amid losses early in the week on a bearish supply outlook.
Soft wholesale pork prices also weighed on futures, but technically it still appears as if hogs have made a bottom.
Live cattle futures were lower on the week amid demand concerns and questions about whether the recent surge in wholesale beef prices has run its course.
USDA's boxed beef reports showed Choice up more than $8 and Select up more than $5, but those gains slowed later in the week.
News that Tyson Foods is closing its Denison, Iowa beef plant led to a selloff on Friday.
Cash trade for the week was limited, with trade reported at $148 in the southern Plains, down $2 from a week earlier.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
|
