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September 28, 2015
In the News
The next issue of Agri Marketing will feature a special Salute to Farm Credit on its 100th anniversary! To schedule your congratulatory 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 | + .11 ¾ | 3.89 | 3.26 |
| Soybeans | + .22 | 8.89 ¼ | 9.22 ¾ |
| Wheat | + .21 | 5.07 ¾ | 4.74 |
| Cattle | - 2.30 | 133.70 | 155.45 |
| Hogs | + 0.85 | 71.90 | 106.33 |
| Cotton | - 0.21 | 59.64 | 61.49 |
| Milk | - 0.04 | 15.80 | 24.58 |
| Crude Oil | + 1.02 | 45.70 | 92.53 |
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Comments: Grain and soybean futures were higher amid short-covering and strong soybean export demand.
Soybeans got a lift from a Chinese government delegation's visit to the U.S.
and their agreement to purchase more than 13 million metric tons of soybeans from the U.S.
Although the timing and price of much of the sales is to be determined, the size of the agreement was much higher than trade expectations.
USDA also reported several large soybean export sales in its daily reporting system.
The upside for corn and soybeans was limited by harvest pressure, along with forecasts calling for more dry weather over the next couple of weeks.
In wheat, export demand remains lackluster but concern about dryness in the Black Sea region gave the market some support, as did technical buying amid growing sentiment the market has established a bottom.
Cotton was mixed on the week but ended strongly, following a bullish daily reversal on Thursday off of a 7 1/2-month low.
Rice futures extended their rally, surging to a new 14-month high amid concern about U.S.
and world production.
In the livestock complex, cattle futures extended their slump and spent part of the week in free-fall before recovering late Thursday.
Both live and feeder cattle futures set new contract lows.
Cash cattle traded mostly at $128-$130, down as much as $6 from a week ago, and plunging beef prices are also pressuring futures.
Friday's afternoon Boxed Beef report reported Choice at $212.23, down $14.07 on the week after tumbling $10 the prior week.
Packer margins have dwindled during this time period.
Lean hog futures were up on the week and stayed strong technically amid firm cash prices, despite abundant hog and pork supplies.
Friday's quarterly USDA Hogs and Pigs report showed the size of the herd slightly larger than expected. |
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