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January 3, 2017
In the News
Happy New Year! Registration is now open for NAMA's 2017 Agri-Marketing Conference. For information click here. |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0625 | 3.5200 | 3.5900 |
| Soybeans | +0.0750 | 9.9650 | 8.7550 |
| Wheat | +0.1450 | 4.0800 | 4.6975 |
| Cattle | +4.42 | 119.00 | 133.00 |
| Hogs | +2.95 | 66.15 | 59.77 |
| Cotton | +0.78 | 70.65 | 63.97 |
| Milk | +0.01 | 17.39 | 13.61 |
| Crude Oil | +0.68 | 53.70 | 36.60 |
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Ag markets posted gains across the board, with a slumping U.S.
dollar and uncertainty about South American weather providing support for the grains complex.
Although the crop outlook for Brazil and Argentina remains mostly favorable, dry pockets in Brazil and excessive rains in parts of Argentina helped underpin prices.
Strong export demand boosted wheat on the week and has given ongoing support for corn, however new soybean export commitments were down on the week.
For the year, corn and Chicago wheat were lower for the fourth year in a row, although corn's decline was modest.
Chicago wheat was down 13% on the year and Kansas City was down 11%, while Minneapolis wheat was up 9% in 2016.
Cotton futures were up on the week amid technical buying and continued strong export demand, and for the year front-month futures gained more than 7%.
Rice futures were up on short-covering and the weaker dollar, with solid weekly e
xports adding support.
In the energy complex, crude oil and natural gas were up slightly on the week, however natural gas retreated late in the week and the outlook for this market will weaken if warmer temperatures emerge in January as currently forecast.
In the livestock complex, live cattle futures set new 6-to 8-month highs but retreated on Friday amid profit-taking and softer wholesale beef prices.
Stronger cash trade was supportive, and robust packer margins should continue to support demand.
For the year, front-month live cattle futures were down almost $17, while feeder cattle futures lost $36.
Lean hog futures were up on the year and for the week, as the market traded near multi-month highs as firm pork prices and robust packer margins underpin the complex.
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