In the News

The next issue of Agri Marketing will include an update on Farm Broadcasting. All ads half page or larger will be studied by Readex. 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	-0.3700	3.8075	3.7975
Soybeans	-0.1200	8.7975	8.9700
Wheat	-0.2400	4.7750	5.6200
Cattle	-8.70	98.05	109.28
Hogs	-4.97	62.00	55.48
Cotton	1.23	60.13	81.80
Milk	-0.03	17.84	15.89
Crude Oil	0.44	54.81	64.88

Corn market bulls were routed last week after Monday's USDA Crop Production report pegged U.S. output at 13.901 billion bushels, well above all trade expectations, and raised its U.S. ending stocks estimate. The weekly futures decline was the largest in percentage terms since June 2016. Soybean futures fell under pressure from corn market weakness and weak export prospects despite lower-than-expected U.S. crop estimate of 3.680 billion bushels due to low planted acreage. Wheat futures were pressured by corn market weakness, a larger-than-expected U.S. wheat crop of 1.980 billion bushels and ample supplies in the Black Sea region and the European Union.

Livestock futures also had a rough week, with live cattle futures mostly falling their daily price limits on Monday and Tuesday on concerns about packer demand after a fire shut down a large Tyson Foods beef plant indefinitely. Lean hog futures fell under pressure from cash hog market weakness, the cattle market collapse and ongoing concerns about export demand for U.S. pork amid the U.S.-China trade tensions.

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