In the News

The next issue of Agri Marketing will include a focus report on marketing to Dairy producers. To schedule your organization's ad contact Audrey Evans: AudreyE@AgriMarketing.com; 515-954-8589.

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-0.0625	3.6825	3.6725
Soybeans	-0.2650	10.3250	8.8250
Wheat	-0.0800	4.4100	4.6850
Cattle	+1.52	117.93	134.10
Hogs	-0.30	70.78	71.15
Cotton	-2.34	73.48	59.87
Milk	+0.02	16.88	13.83
Crude Oil	-0.46	53.40	30.66

Soybean futures stumbled late in the week, falling amid bear-spreading and speculative selling. Expectations of a strong South American crop and favorable harvest weather in Brazil weighed on the market. The good soybean harvest weather also favors timely planting of second-crop corn in Brazil, one negative factor weighing on corn futures during the week. Corn futures rose to their highest levels in seven months before retreating and ending lower on the week. Strong export demand remains supportive for corn, but soybean export demand is starting its seasonal shift to South America. Wheat futures ended lower as world supplies remain abundant and crop threats are limited other than some concern about U.S. winter wheat breaking dormancy too soon due to unusually warm February weather. Cotton futures stumbled badly after rallying for much of 2017 up to this point. Expectations of increased U.S. acres hang over the cott on market. In outside markets, natural gas futures fell to new three-month lows and crude oil was lower. While the U.S. dollar index was up on the week, it fell to its lowest level in more than 18 months versus the Brazilian real and the Russian ruble, moves that could benefit U.S. export efforts for soybeans and wheat respectively.

In the livestock complex, live cattle futures ended the week on a strong note, rebounding after some contracts hit two-month lows to start the week. Cash trade in the southern Plains at $120 was steady with a week ago and better than expected given packer margins that remain deep in the red. Wholesale beef prices were higher on the week and unseasonably warm weather across most of the U.S. could help demand for both beef and pork. Lean hog futures were mixed on the week amid firm cash prices and softer wholesale pork values. Pork packer margins remain positive but have thinned over the past month.

Click on the Brock logo or call 1-800-558-3431 for more info on our services.