Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | + .00 ¼ | 3.89 ¼ | 3.22 ¾ |
| Soybeans | - .15 | 8.74 ¼ | 9.24 ½ |
| Wheat | + .05 ¼ | 5.13 ¼ | 4.82 ¾ |
| Cattle | - 10.65 | 123.05 | 162.85 |
| Hogs | + 1.40 | 73.28 | 106.78 |
| Cotton | - 0.44 | 59.20 | 62.45 |
| Milk | + 0.16 | 15.66 | 24.03 |
| Crude Oil | - 0.16 | 45.54 | 91.01 |
| 
|
Comments: Soybeans were lower on the week despite a friendly USDA Sept.
1 Grain Stocks report, which showed a smaller-than-expected 2014-15 carryout of 191 million bushels.
This reduction mostly reflected a downward production revision.
The market was pressured by the ongoing U.S.
harvest and by widespread reports of strong yields.
USDA's Grain Stocks report, issued on Sept.
30 along with its Small Grains Summary, was also friendly for wheat, as it slashed production estimates for spring, hard red winter and soft red winter, and showed Sept.
1 stocks smaller than expected.
The wheat market climbed to its highest level in seven weeks, driven by short-covering.
Corn was mixed, as the upside was limited by the ongoing harvest.
The cotton market was down slightly despite solid weekly export sales and excessive rainfall across southeastern U.S.
growing areas.
Rice futures hit a fresh 14-month high early and shuffled sideways for the rest of the week, with disappointing U.S.
yields underpinning prices.
Natural gas prices nosedived, hitting their lowest level in more than three years amid ample supplies and mild weather forecasts.
In the livestock complex, live cattle continued to plunge, falling to new contract lows and the lowest price for the spot month in more than two years.
Cash cattle trade early in the week at $124 in Kansas, down mostly $6 from a week earlier, helped set the negative tone.
Wholesale beef prices remained in freefall, and as of Friday USDA's Boxed Beef report showed Choice down $35 over the past month.
Despite the tumble in beef, packer margins have remained positive.
Feeder cattle futures were also on the defensive, falling to a 20-month low despite a large discount to cash.
Lean hog futures were higher for the third straight week amid firm cash market prices and solid packer margins, which are driving demand for hogs.
The market found technical support on Thursday. |
