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November 9, 2015
In the News
Syngenta's Acuron named Agri Marketing's New Product of the Year, Krone's Big M conditioner named Product of the Year. To schedule your congratulatory ad contact Audrey Evans at 515-954-8589; AudreyE@AgriMarketing.com
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .09 ¼ | 3.73 | 3.71 ¼ |
| Soybeans | - .12 ½ | 8.71 ¼ | 10.31 |
| Wheat | + .01 ¼ | 5.23 ¼ | 5.20 ¼ |
| Cattle | - 6.80 | 134.93 | 165.35 |
| Hogs | - 4.20 | 55.00 | 87.65 |
| Cotton | - 1.66 | 61.66 | 63.19 |
| Milk | + 0.31 | 15.63 | 21.85 |
| Crude Oil | - 2.30 | 44.29 | 77.91 |
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Comments: Corn and soybean futures were down on the week, falling below their recent trading range to their lowest levels in nearly two months as a surge in the U.S.
dollar weighed on commodities generally.
Poor export demand is weighing on corn, and while soybean export demand has picked up recently, the latest weekly commitments were down sharply and well below expectations.
Wheat export demand remains poor.
On the supply side, the U.S.
corn and soybean harvest is nearing completion, and the winter wheat crop is off to a decent start in many areas, with recent rains improving the outlook.
Traders are keeping an eye on South America conditions, which have been improving in both Argentina and Brazil.
However, hot, dry weather remains an underlying concern in parts of Brazil and could become a bigger market factor if the latter half of November doesn't offer some relief.
Cotton futures fell to a four-week low amid U.S.
harvest pressure and continued poor demand from China.
Rice futures surged, gaining 50 cents on the week amid support from concerns about El Nino and the impact on production in Asia.
Crude oil was lower on a larger-than-expected build in stockpiles and a surprising increase in weekly production.
The livestock complex was a bloodbath for market bulls, as both lean hogs and cattle fell sharply.
Wholesale beef prices fell by more than 2% on the week and cash cattle trade was bearish, emerging Friday at $134 in Texas and Kansas, mostly down $4 from the prior week.
The beef market is struggling amid stiff competition from pork and poultry supplies.
Lean hogs fell to their lowest level in six years, driven lower by ample supplies.
Wholesale pork values fell for the second straight week, and cash hog prices remain on the defensive as well.
Packers are having no trouble finding hogs and that is unlikely to change leading into Thanksgiving.
Demand is not being helped by the much-publicized report from the World Health Organization labeling processed meat as a cancer risk.
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