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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0100 | 3.5625 | 3.5250 |
| Soybeans | -0.0175 | 8.4550 | 9.5950 |
| Wheat | -0.1275 | 5.0900 | 4.5500 |
| Cattle | +0.40 | 118.85 | 115.05 |
| Hogs | +0.52 | 57.93 | 58.28 |
| Cotton | -2.76 | 76.37 | 68.97 |
| Milk | -0.25 | 15.79 | 16.29 |
| Crude Oil | +2.76 | 73.54 | 51.56 |
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Grain and soybean futures were down on the week, with Friday's quarterly Grain Stocks report causing some late pressure.
USDA reported Sept.
1 stocks of corn at 2.140 billion bushels, well above analyst expectations, and this extra supply will have a spillover effect into 2018-19.
USDA's Sept.
1 soybean stocks estimate was also well above expectations at 438 million, which included an upward revision to the 2017 soybean crop.
Both corn and soybeans posted bearish outside days lower on the charts on Friday.
Wheat futures sagged amid technical selling, and the market got no help from Friday's stocks report.
With the exception of continued strong corn exports, demand remains a question mark for the grains complex.
On the supply side, there continue to be very strong yield reports for soybeans, cotton and rice, and while corn yields have been more variable, a very large crop is expected there as well.
However, sloppy weather across the Midwest and parts of the South through September have slowed the harvest pace, and could continue to raise concern about crop quality.
Cotton futures tumbled for the second week in a row, plummeting to multi-month lows on export demand concerns.
In the livestock complex, lean hog futures started the week strong amid ongoing cash market strength, with the October contract hitting a three-month high, before the market pulled back leading into Thursday's quarterly Hogs and Pigs report.
That report ended up slightly friendly, and futures were up slightly on the week.
The strong rally in cash hog prices showed signs of slowing down, but African swine fever remained a supportive factor.
Live cattle futures were higher, with deferred contracts in particularly showing strength as February and more distant months made new contract highs.
Plains cash trade was slow to develop and was mostly steady from a week ago.
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