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September 21, 2015
In the News
Agri Marketing's Product of the Year program is now open for nominations! To review the program click here. Last year's winner was Syngenta's Enogen
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .09 ¾ | 3.77 ¼ | 3.38 ¼ |
| Soybeans | - .20 ½ | 8.67 ¼ | 9.71 ½ |
| Wheat | + .01 ¾ | 4.86 ¾ | 4.88 ½ |
| Cattle | - 4.60 | 136.00 | 155.60 |
| Hogs | + 3.73 | 71.05 | 102.98 |
| Cotton | - 4.24 | 59.85 | 66.90 |
| Milk | - 0.13 | 15.84 | 24.53 |
| Crude Oil | + 0.05 | 44.68 | 93.07 |
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Comments: Grain and soybean futures were mostly lower as both corn and soybeans stumbled late in the week after early strength.
Generally favorable harvest weather with the lack of a major frost threat on the horizon weighed on the markets, as traders watch yield reports.
So far corn yields have disappointed in many areas, although the best-yielding areas are expected to be northern Iowa and Minnesota, where harvest has not yet kicked into gear.
Early indications are that the soybean crop will fare better than corn.
Soybean export commitments have improved recently, and the NOPA crush report showed the largest August crush in eight years.
Wheat futures were firm for the week amid short-covering, but continue to struggle with lackluster export demand and a lack of crop problems globally.
Rice futures were higher, reaching their highest level in nearly a year amid disappointing U.S.
yields, while cotton futures tumbled on Friday to a 7 1/2-month low amid concern about the world economy and its impact on demand.
In the livestock complex, cattle and hogs are moving sharply in different directions.
Live cattle futures tumbled to their lowest level in 16 months on weak beef demand and sharply lower cash cattle prices.
Cash cattle traded another $4-$5 lower on the week to mostly $135-$136 in Kansas.
Wholesale beef prices continued to plummet, with USDA's Boxed Beef report showing Choice down more than $10 on the week.
Technical selling added to the pressure on both live cattle and feeder cattle futures.
Feeders also fell to a fresh 16-month low, despite the market's big discount to cash.
Lean hog futures, meanwhile, were all over the map during the week but ultimately higher on technical buying and firm cash hog prices.
The market is in an uptrend but gains could be limited by ample supplies.
Wholesale pork prices were down on the week.
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