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October 11, 2016
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0300 | 3.3975 | 3.9575 |
| Soybeans | +0.0275 | 9.5675 | 8.9100 |
| Wheat | -0.0725 | 3.9475 | 5.1675 |
| Cattle | +2.98 | 101.88 | 129.35 |
| Hogs | +1.66 | 50.68 | 73.83 |
| Cotton | -1.10 | 66.98 | 61.94 |
| Milk | -0.22 | 14.99 | 15.61 |
| Crude Oil | +1.57 | 49.81 | 47.81 |
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Corn and soybean futures were up slightly on the week, with short-covering and technical buying offsetting harvest pressure.
The soybean market performed well given the continued reports of good-to-outstanding yields, as strong export demand is supportive.
U.S.
corn yields have been more variable, although overall a big crop is still expected.
Wheat futures were mixed, with weakness in Chicago and Kansas City while Minneapolis wheat gained on the week and made a new three-month high.
Wet weather in Canada and crop concerns in Australia have fed worries about high-quality wheat supplies, underpinning spring wheat.
The trade is looking ahead to the Oct.
12 USDA Supply and Demand report, including U.S.
crop revisions.
Cotton futures were down on the week, as favorable conditions in most U.S.
crop areas offset concern about crop damage in the Carolinas from Hurricane Matthew.
The storm dumped several inches across the r
egion and will result in crop losses.
Crude oil futures surged on continued talk of an OPEC production freeze, technical buying and gasoline demand.
Natural gas futures also surged, to their highest level since January 2015.
Live cattle futures plummeted to new contract lows to start the week but rebounded from there, climbing despite weaker cash trade and slumping wholesale beef prices.
Cash trade occurred mostly at $102 in the Plains, down $1-$2 from the prior week, while Boxed Beef values fell $3-$4.
Packer margins remain extremely strong, however beef supplies remain ample to meet lackluster demand.
Lean hog futures were also up on the week.
Following six weeks of losses, short-covering and bottom-picking amid ideas that the market was finally setting a bottom supported the market.
Futures had fallen to fresh contract lows on Wednesday before rebounding.
Cash hog prices remained under pressure however as supplies are abundant.
Wholesale pork values were also soft on the week.
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