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May 1, 2017
In the News
The next issue will feature Salutes to NAMA AgBusiness Leader of the year Michael Stern, The Climate Corp and Agri-Marketer of Year Greg Nickerson, Bader Rutter. Plus the annual listing of largest ag agencies. To schedule your ad contact AudreyEvans@AgriMarketing.com.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0100 | 3.5800 | 3.8700 |
| Soybeans | -0.0575 | 9.4525 | 10.1800 |
| Wheat | +0.1350 | 4.1850 | 4.7550 |
| Cattle | +7.33 | 124.03 | 122.85 |
| Hogs | +3.95 | 66.98 | 77.33 |
| Cotton | +1.24 | 80.23 | 63.69 |
| Milk | -0.03 | 15.17 | 13.63 |
| Crude Oil | -0.29 | 49.33 | 46.03 |
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Price action was subdued in corn and soybeans as traders eyed U.S.
weather forecasts and potential planting delays.
Both markets ended the week lacking direction in the near-term.
Wheat was the top performer in the grains complex, jumping on short-covering and U.S.
crop concerns.
Spring wheat planting is slow in the northern Plains, soft red winter wheat crops in the Midwest are facing excessive moisture and hard red winter wheat crops in the western Plains were walloped over the weekend by a blizzard.
The same weather system has also dumped multiple inches of rain across much of the Midwest, with Illinois and Missouri getting hit particularly hard.
In addition to delaying planting for several days in many spots, the rains will also cause some replanting.
Cotton futures hit their highest level in more than a month before ending mostly lower on the week, with disappointing export sales a negative factor.
Rice futures
tumbled to new contract lows and were flirting with a new 10 1/2-year low by the end of the week.
Crude oil was down slightly and remains under pressure from increasing U.S.
production.
It was another eventful week in the livestock complex, as live cattle futures continued to scream higher on support from stronger cash markets.
Nearby April live cattle reached a 13-month high on the weekly continuation chart.
In the cash market, cattle sold for $137-38, up $5-$6 from the prior week.
Wholesale beef prices continued to edge higher.
Feeder cattle futures also hit new contract highs and made a new eight-month high on a front-month basis.
Lean hog futures also soared, rebounding from multi-month losses amid signs of a seasonal low in the cash market.
Technically, it appears hogs have put in a significant low, but it's unclear how much more upside nearby futures may have as they are already at solid seasonal premiums to the CME cash hog index.
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