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May 8, 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 AudreyE@AgriMarketing.com.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0375 | 3.6175 | 3.7175 |
| Soybeans | +0.1775 | 9.6300 | 10.0350 |
| Wheat | +0.0900 | 4.2750 | 4.5300 |
| Cattle | +4.28 | 128.30 | 119.625 |
| Hogs | +2.43 | 69.40 | 77.58 |
| Cotton | -0.47 | 79.76 | 62.47 |
| Milk | +0.25 | 15.60 | 12.87 |
| Crude Oil | -3.11 | 46.22 | 44.32 |
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Grain and soybean futures rallied sharply to start the week on concerns about U.S.
production following a weekend blizzard in the western Plains and excessive rainfall across much of the Corn Belt.
The blizzard complicated the annual hard red winter wheat tour in Kansas, which found surprisingly strong yields.
However many fields on the tour were unable to be assessed due to lodging and snow that was in some cases still on the ground.
Meanwhile areas from central Missouri through Illinois and Indiana saw several inches of rain, causing flooding and bringing planting to a standstill.
This rallied the corn market early in the week, but by the end of the week it was also apparent that conditions elsewhere in the Corn Belt, particularly in the northwest Corn Belt, were much better.
The wet conditions in the southern Midwest also fed concern about disease pressure on soft red winter wheat.
Cotton futures chopped sideways
for much of the week before falling apart on Friday, as a favorable outlook for key Texas growing areas overshadowed planting delays in the Delta.
Rice futures were up sharply, rallying from the prior week's contract lows on support from what are expected to be widespread acreage losses in northeast Arkansas due to flooding.
It was another eventful week in the livestock complex.
Live cattle futures soared to new contract highs on sharp increases in Plains cash cattle trade, with surging beef prices and the Plains blizzard also serving as supportive factors.
Futures retreated sharply late in the week however amid speculative profit-taking.
Futures remain at a very large discount to cash.
Lean hog futures also surged, climbing as the cash hog market confirmed a seasonal low and turned sharply higher.
Pork prices were firm on the week, but did not keep pace with hog prices, causing packer margins to erode.
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