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August 27, 2018
In the News
The next issue of Agri Marketing will include an update on Farm Broadcasting. To schedule your organization's ad contact Audrey Evans: AudreyE@AgriMarketing.com; Ph: 515-954-8589.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.1600 | 3.6275 | 3.7600 |
| Soybeans | -0.3750 | 8.5525 | 9.4875 |
| Wheat | -0.4325 | 5.3650 | 5.0500 |
| Cattle | -4.18 | 106.70 | 102.42 |
| Hogs | -6.83 | 51.78 | 63.63 |
| Cotton | +0.24 | 81.63 | 67.80 |
| Milk | +0.35 | 16.16 | 16.91 |
| Crude Oil | +3.42 | 68.63 | 51.56 |
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Grain and soybean futures tumbled throughout the week, falling to multi-week lows as expectations for the U.S.
corn and soybean crops are growing.
The Pro Farmer crop tour found strong yield potential across most of its route through the week.
Soybean pod counts were especially strong.
Meanwhile the weather across the Midwest has remained mostly favorable, with ample rainfall eliminating any concern about drought damage in most areas.
Basis levels plunged along the Mississippi River system, particularly for soybeans, thanks to the huge incoming crop as well as reduced export demand from China.
Talks between the U.S.
and China during the week were a disappointment, yielding no apparent progress.
Wheat futures also stumbled badly during the week, with pressure from weak export demand.
Cotton futures were firm in a choppy week, with modest improvement in the U.S.
crop outlook limiting the upside.
Rice futures rallied on fresh export demand as September surged to a premium to November.
Crude oil futures also rallied, gaining on supply concerns as U.S.
inventories fell.
In the livestock complex, both live cattle and nearby lean hog futures tumbled.
Ample market-ready fed-cattle supplies weighed on cash prices and futures, and pressure on the cash market should continue this week because of a holiday-shortened slaughter schedule.
Traders were also preparing for the Cattle on Feed report, which on Friday afternoon showed the Aug.
1 feedlot inventory at 104.6% of a year earlier.
Lean hog futures fell sharply in nearby months on cash-market weakness and expectations of abundant fall supplies.
However, contracts for 2018 held firm, with concerns about African swine fever in China and optimism about a trade deal with China supporting those deferred contracts.
Weak wholesale pork values, particularly pork bellies, were a negative market factor.
Packer margins remain strong for both beef and pork.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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