In the News

Case IH's Early Riser planter named Agri Marketing magazine's 2016 NEW Product of the Year, DuPont Pioneer's Plenish High Oelic soybeans named Product of the Year. Both will be highlighted in the next issue of Agri Marketing.

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-0.0625	3.4875	3.8050
Soybeans	-0.1975	9.8150	8.8200
Wheat	+0.0575	4.1425	5.2625
Cattle	-1.62	102.73	137.22
Hogs	-0.65	46.15	57.38
Cotton	-2.29	68.53	61.94
Milk	1.12	16.81	15.42
Crude Oil	-4.60	44.10	46.32

Grain and soybean futures were mixed on the week as choppy, sideways trade continued while traders awaited the presidential election and the Nov. 9 USDA Supply and Demand report. Corn's losses were modest on the week, although it was still the worst week for the market since mid-August. Although moisture in Argentina has slowed planting there, the weather outlook has remained mostly favorable for South American production in general. Meanwhile the U.S. harvest for corn and soybeans continues to move along with warm weather and limited rainfall. Strong export demand, particularly for soybeans, has helped to limit the markets' downside. However a strong crop in South America accompanied by what as of now looks to be increased U.S. soybean acres in 2017 give the soybean market. Wheat prices were up slightly on the week in Chicago and Kansas City, with dry conditions in the western Plains providing some support. Minneap olis wheat however was down by more than a dime. Cotton futures were lower on the week, plunging on Monday and setting a new three-week low on Friday despite weakness in the U.S. dollar index, which fluctuated based on pre-election polls. Crude oil futures tumbled to a three-week low.

In the livestock complex, live cattle futures seesawed up and down throughout the week but ultimately were lower, pressured by disappointing cash trade and soft wholesale beef prices. Despite robust beef packer margins that fed cash cattle expectations, packers resisted paying more, and cash trade was steady or mostly lower. Lean hog futures were down on the week on pressure from large hog supplies and increased pork output as a North Carolina plant that was damaged by Hurricane Matthew came back on line. Seasonally, supplies will remain bearish in the near-term. Firm wholesale pork prices limited futures' downside.

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