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WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.0075	3.6775	3.4875
Soybeans	-0.1175	8.4500	9.7525
Wheat	-0.0950	5.0525	4.2725
Cattle	+1.625	113.875	115.375
Hogs	+6.325	57.925	64.450
Cotton	+0.61	78.53	68.20
Milk	-0.02	15.53	16.71
Crude Oil	-1.53	67.59	53.90

Grain and soybean futures were on the defensive for most of the week before trimming losses on Friday amid positive export news. The Friday rally pushed corn into positive territory for the week. Soybeans and wheat were still down on the week, pressured by weak export demand. However on Friday USDA reported a fresh soybean export sale, and the U.S. unexpectedly won some rare business in an Egyptian wheat tender. Soybeans could get further support from U.S. crop concerns, as the historically wet first half of October in the western Corn Belt has led to many reports of yield losses. For wheat, the market's plunge in the early part of the week has helped make the U.S. competitive for export demand, but that could quickly disappear if prices rally again. Cotton futures were up modestly on the week as U.S. crop concerns offset weak export demand and a strong dollar. Crude oil futures fell on pressure from abundant supplies and questions about demand amid signs of a slowing global economy. A sharp drop in equities during the week fed into concerns about commodity demand.

In the livestock complex, lean hog futures soared, rallying more than $6 on firm cash markets and growing concern about African swine fever. China reported more outbreaks this week, and the prospect of its further spread could provide longer-term market support. Smithfield Foods warned on Friday that the virus has the potential to roil global pork markets in 2019. Technically, lean hog futures posted a bullish outside week higher. Live cattle futures were also up on the week, with support from hogs. Plains cash trade on Friday gave futures a late boost, as trade was reported across the Plains at $115, up $4 from the prior week.

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