|
|
|
|
|
|
February 1, 2016
In the News
|
|
|
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.01 3/4 | 3.72 | 3.71 1/2 | | Soybeans | +0.05 3/4 | 8.82 1/4 | 9.68 1/4 | | Wheat | +0.03 3/4 | 4.79 1/4 | 5.07 3/4 | | Cattle | +2.73 | 134.80 | 153.53 | | Hogs | +2.63 | 65.63 | 68.55 | | Cotton | -1.32 | 61.13 | 59.57 | | Milk | +0.02 | 13.74 | 16.16 | | Crude Oil | +1.43 | 33.62 | 44.53 | | Choppy and sideways trade persisted in the grains complex, as corn, soybeans and wheat all posted modest gains.
The markets are in a "winter doldrums" period without much fundamental news.
Exports are lackluster thanks to strong competition globally, ethanol production is declining, and crop threats are minimal, both in the U.S.
and around the world.
Brazilian weather remains favorable for crop production, however heat and dryness in Argentina is a growing concern.
Winterkill threats for wheat in the Northern Hemisphere are limited, and a storm system sweeping across the Plains and Midwest this week will further boost soil moisture heading into spring.
Rice ended higher every day on the week amid short-covering as the market continued to rebound from its recent seven-month low.
Cotton futures fell sharply, dropping below support to their lowest level in nearly four months amid concern about China stockpiles and lackluster export demand.
Crude oil was higher, driven by short-covering as well as speculation that some global heavyweights, including Russia and Saudi Arabia, were open to discussing production cuts.
Lean hog futures surged to three-month highs amid technical buying and ongoing strength in the cash market.
Wholesale pork prices continued to climb, helping to underpin packer margins and maintain good competition for supplies.
Futures' upside could be limited by a big premium to cash, although cash could rise to meet futures.
Live cattle futures gained for the second week in a row, climbing to three-week highs in nearby months before posting a technically bearish outside day lower on Friday.
Cash cattle trade was firm and the market gained despite continued weakness in wholesale beef prices and further deterioration of packer margins.
The USDA's cattle inventory report was a little negative versus expectations, as it showed a 3% increase in the herd size from a year earlier.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
