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January 2, 2018
In the News
Start 2018 out with a bang. Schedule your organization's ad in the Agri Marketing Services Guide. The ag industry's Directory used throughout the year. Contact Audrey Evans at Audreye@AgriMarketing.com or call her at 515-954-8589.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0125 | 3.5075 | 3.4975 |
| Soybeans | +0.0150 | 9.6175 | 10.0325 |
| Wheat | +0.0225 | 4.2700 | 4.0475 |
| Cattle | +2.97 | 121.55 | 118.70 |
| Hogs | +1.80 | 71.78 | 64.65 |
| Cotton | +0.76 | 78.63 | 70.50 |
| Milk | +0.06 | 14.08 | 17.38 |
| Crude Oil | +1.95 | 60.42 | 53.77 |
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Grain and soybean futures were mostly quiet in the final week of what was a relatively quiet 2017.
March corn futures were down 1 ¼ cents on the week and nearby futures were down 1 ¼ cents on the year.
Nearby futures traded in a range of just 66 cents on the corn continuation chart over the course of the year--the smallest yearly range for nearby futures since back in 2001, when the annual range was just 46 1/2 cents, from $1.84 to $2.30 1/2.
While the corn market lacks direction, soybeans, which were up slightly on the week, were down 4.5% on the year and remain in a precarious position technically.
Corn and soybeans are in need of a crop problem in South America, but Brazil conditions remain mostly favorable.
Dryness in Argentina has been limiting the markets' downside in the near-term.
Wheat futures were up slightly on the week, underpinned by short-covering, a weaker U.S.
dollar and concern about winterkill threats in the Plains.
Cotton futures continued to surge, driven by speculative buying and tight near-term supplies.
The market made new contract highs and a 7-month high on a front-month basis.
In the energy complex, crude oil surged above $60 to a new 2 ½-year high on tightening U.S.
stockpiles and potential supply disruptions in the Middle East.
In the livestock complex, both cattle and hogs were up on the week.
Stronger-than-expected cash cattle trade emerged late in the week at $122-23 in the southern Plains.
Surging wholesale beef prices and the bitter cold in Plains feedlot territory also boosted the cattle complex.
Large lightweight cattle placements in November remained a bearish market factor for some deferred contracts.
Lean hog futures were up on technical buying, with both February and April hitting new contract highs on Friday.
Wholesale pork prices were firm.
Nearby futures' large premium to the CME cash index could limit the market's upside however.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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