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July 11, 2016
In the News
The next issue of Agri Marketing will include the annual Ag/Rural Show Guide and a Salute to the Ag Media Summit. To schedule your ad, contact Audrey Evans: AudreyE@AgriMarketing.com; 515-954-8589.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0325 | 3.4975 | 4.1625 |
| Soybeans | -0.7900 | 10.8975 | 10.0625 |
| Wheat | +0.0450 | 4.2075 | 5.7225 |
| Cattle | -0.75 | 112.23 | 149.00 |
| Hogs | -2.62 | 80.05 | 79.50 |
| Cotton | +0.82 | 65.92 | 64.59 |
| Milk | +0.13 | 15.20 | 16.16 |
| Crude Oil | -3.58 | 45.41 | 51.65 |
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Soybeans were the big loser on the week, tumbling amid fund liquidation and the absence of a major U.S.
crop threat.
The market tumbled to open the week on Tuesday following the July 4 holiday and fell to their lowest level in six weeks before rebounding on Friday.
The soybean crop was rated 70% good/excellent to start the month, up from 63% a year ago, and warm but wet conditions across much of the Midwest have helped keep crop concerns at bay.
However the key time period for soybean production is yet to come, and fears of hot and dry weather later in July continue to keep corn and soybean traders on edge.
Corn futures also tumbled to start the week but ended strongly on Friday, near the week's highs.
Corn was underpinned by a dramatic 14% reduction in the expected size of Brazil's second-crop corn production by a Brazil government agency.
Cotton futures were up on the week amid concern about extreme heat in West
Texas, along with the strongest weekly export sales in more than two months and speculative buying.
Crude oil futures stumbled amid abundant supplies and technical selling.
In the livestock complex, live cattle futures retreated amid concern about demand, as holiday beef clearance appeared to be lackluster.
Futures traders also continue to focus on the large increase in feedlot placements between February and May compared with last year, and the sizable increase in fed cattle supplies that should be ahead as a result.
A firm dollar and broad-based weakness in commodities were also negative factors.
Lean hog futures fell to new six-week lows amid technical selling and expectations of rising hog supplies.
Wholesale pork values however were firm, helping to keep packer margins strong and encourage good demand for hogs.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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You can see the effects of dry conditions throughout the southeast, and better than normal conditions through central Texas up into western Kansas and eastern Colorado.
We see reduced plant greenness in southern Iowa, northern and southern Illinois, much of Indiana and Ohio and southern Pennsylvania.
The Dakotas and eastern Montana and Wyoming also show lower than normal greenness at this time of year. |
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