Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .02 | 3.63 ¼ | 3.61 ¾ |
| Soybeans | - .12 | 8.93 ¼ | 10.73 ¾ |
| Wheat | - .22 ½ | 4.77 | 5.56 ½ |
| Cattle | + 1.10 | 146.53 | 154.65 |
| Hogs | + 3.60 | 66.43 | 95.48 |
| Cotton | - 3.89 | 63.75 | 67.14 |
| Milk | - 0.10 | 16.31 | 22.24 |
| Crude Oil | + 4.77 | 45.22 | 94.55 |
| 
|
Comments: Commodity markets took a beating early in the week, getting swept up in a global selloff that sent equities plunging and crude oil to a fresh six-year low.
Corn futures did recover, but still ended slightly lower.
Soybeans were also lower.
Both markets were pressured by favorable Midwest weather, a stronger dollar later in the week and a slow pace of exports sales for the 2015-16 marketing year.
Export sales did start to pick up some this week for soybeans.
Wheat eroded steadily throughout the week and ended near the week's lows, with Chicago December making a new contract low on Friday while K.C.
and Minneapolis wheat made new five-year lows.
Solid European crop yields and continued struggles in the export market are weighing on U.S.
wheat prices.
After surging the past couple weeks, cotton futures fell sharply, driven down early in the week by the bearish macroeconomic environment and concerns about China demand in particular.
In the livestock markets, lean hog futures surged, driven by the market's discount to cash.
Futures climbed early in the week even amid the global economic turmoil, aided in part by a report from Smithfield Foods that its pork exports were up sharply in the first half of the year.
Wholesale pork values were soft on the week however, slipping 3.6%.
Live cattle futures were pressured by the worries about the global economy and beef demand early in the week, but set what appeared to be a spike low on Wednesday and climbed from there.
The market's upside is likely limited if economic concerns persist, but by the end of the week the U.S.
stock market had put to rest fears of a crash and crude oil soared, driving short-covering and fresh buying as the market appeared to set a bottom.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
