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August 24, 2015
In the News
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| Most Read Items From Prior Issue of |  |
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | + .01 ¼ | 3.65 ¼ | 3.62 ¼ |
| Soybeans | - .20 | 9.05 ¼ | 11.36 ¼ |
| Wheat | - .07 | 4.99 ½ | 5.46 ¼ |
| Cattle | - 3.03 | 145.43 | 149.65 |
| Hogs | - 2.53 | 62.83 | 93.63 |
| Cotton | + 0.48 | 67.64 | 66.50 |
| Milk | - 0.02 | 16.41 | 22.30 |
| Crude Oil | - 2.66 | 40.45 | 93.96 |
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Comments: Corn futures were slightly higher on the week, underpinned by questions about whether USDA's crop projection is too big.
Prices were firm for most of the week but weakened late.
The soybean market remained on the defensive, pressured by some much-needed rain across the Midwest and disappointing export demand.
Soy export sales remain behind USDA's projected pace, and competition from Brazil is not letting up.
A widely followed crop tour this week found corn and soybean yield potential below USDA's forecast, which helped limit the downside in both markets, and strong domestic soybean crush demand is also supportive.
Wheat was choppy but ultimately lower for the week, with new contract lows in Kansas City and Minneapolis on Friday, amid ample world supplies and weak export demand.
Cotton was higher amid technical momentum.
Concern about China, and the global economy in general, could drive market action for the entire grain and oilseeds complex in the short-term.
The livestock complex was pressured by macroeconomic concerns, as both cattle and hog futures fell sharply.
Although wholesale beef prices were actually firm during the week, concerns about tumbling equity markets, China's economy and swelling pork production loomed over the outlook for beef demand and cattle prices.
Feeder cattle futures fell to their lowest level in eight months on Friday.
The July Cattle on Feed report on Friday was considered neutral versus expectations.
Lean hog futures were firm to start the week but fell from there, with seasonal trends and rising hog supplies weighing on prices.
The gloomy global economic outlook was also evident in crude oil futures, which fell below $40 per barrel to their lowest level in more than six years.
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