|
|
|
|
|
|
October 24, 2016
In the News
Two books that are essential tools for all agri-marketers: ProSelling and Agri Manners. For more information, visit our bookstore. |
|
|
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0175 | 3.5250 | 3.8075 |
| Soybeans | +0.2050 | 9.8300 | 9.0525 |
| Wheat | -0.0650 | 4.1450 | 4.9475 |
| Cattle | +5.25 | 101.15 | 139.97 |
| Hogs | -0.38 | 41.85 | 67.03 |
| Cotton | -1.50 | 69.07 | 64.23 |
| Milk | +0.03 | 14.71 | 15.59 |
| Crude Oil | +0.10 | 50.85 | 45.20 |
|
Grain and soybean futures were mixed on the week, with soybeans emerging as the top performer amid speculative buying and strong exports.
The market posted its highest weekly close in nine weeks, rallying despite harvest pressure and continued strong yield reports, along with rapid planting progress in Brazil and strength in the U.S.
dollar.
That strength in the dollar index did help send other commodities lower, including corn, which ended down slightly, and wheat.
Mostly favorable yield reports have helped keep pressure on corn.
Chicago Wheat was down amid abundant world supplies and a lack of fresh bullish demand news.
Concern about dryness in the western Plains was a supportive factor for Kansas City wheat futures, which were up on the week.
Much of western Kansas, eastern Colorado and the Texas Panhandle is now "abnormally dry" according to the latest U.S.
Drought Monitor.
Minneapolis wheat was also up on the week.
Cotton futures were down on the week amid harvest pressure and technical selling.
The surge in the U.S.
dollar-index to a new eight-month high helped to halt the recent upward momentum in cotton and also slowed the recent rally in crude oil.
In the livestock complex, live cattle futures surged amid short-covering and firm cash trade, along with positioning ahead of Friday afternoon's Cattle on Feed report.
The report was indeed bullish for live cattle, as it pegged the Oct.
1 feedlot inventory near the low end of trade expectations on record-low September feedlot placements.
Placements were 98.2% of a year earlier, compared to the average analyst estimate of 103.6%.
Lean hog futures came under renewed pressure from concerns about large hog supplies, which helped send December hogs to a new contract low, although the market recovered late in the week.
Cash markets appear to be stabilizing, as the CME Lean Hog Index showed a gain for a third day in a row, the first time that has happened in months.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
