In the News

The next issue of Agri Marketing will feature Salutes to NAMA's Leaders of the Year: Lynn Huston, John Deere Financial; Zippy Duval, Farm Bureau and Dean Broadhead, broadhead. To schedule your congratulatory ad contact Audrey Evans: AudreyE@AgriMarketing.com; 515-954-8589.

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.0600	3.6250	3.8950
Soybeans	+0.1475	8.9900	10.3125
Wheat	+0.1000	4.6775	4.6475
Cattle	+1.35	120.35	105.05
Hogs	+10.43	98.98	73.83
Cotton	+0.64	78.25	82.57
Milk	+0.28	15.76	14.58
Crude Oil	+2.94	63.08	63.54

Grain and soybean futures rallied, rebounding from weakness the prior week amid support from uncertainty over Midwest planting and optimism about a U.S.-China trade deal. While flooding in the northern Plains hasn't been quite as bad as feared thus far, conditions have remained sloppy across much of the Corn Belt, and forecasts call for precipitation to continue limiting fieldwork in the Corn Belt over the next several days. While it is still early in the season, warmer and drier weather will be needed in the second half of April to avoid more significant planting delays. In the wheat complex, Minneapolis wheat stumbled as Chicago and Kansas City gained, as improving conditions in the northern Plains eased fears about spring wheat planting. On the trade front, there was some optimism about U.S.-China trade negotiations, and Chinese buying of U.S. soybeans and cotton in the weekly export sales report also supported prices. Yet for every report or White House comment indicating progress in U.S.-China negotiations, there seems to be another report questioning whether the two sides will ever come to an agreement. Cotton futures rallied on exports and had support from crude oil, which surged to a fresh five-month high.

In the livestock complex, lean hog futures resumed their sharp rally from earlier in March, rocketing higher amid ongoing concern about the African swine fever crisis in China and the potential for that to drive more demand for U.S. pork. Hog futures climbed back within striking distance of recent highs. Live cattle futures posted moderate gains on the week despite weaker cash trade in the southern Plains. Cash trade developed at mid-week at mostly $124, down $1 to $2 from the prior week. Poor feedlot conditions and transportation problems continued to impact Nebraska markets, and are pressuring slaughter weights.

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