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September 9, 2019
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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ADVERTISEMENT
Seeing is believing
The 2019 Farm Progress Show was incredible.
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Not an exhibitor? Now's the time to make your plans for 2020.
Read More
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -14.25 | 3.555 | 3.6825 |
| Soybeans | -11.25 | 8.5775 | 8.4425 |
| Wheat | .0125 | 4.6375 | 5.315 |
| Cattle | -4.05 | 94.875 | 109.875 |
| Hogs | -.025 | 63.50 | 51.075 |
| Cotton | -.25 | 58.58 | 82.78 |
| Milk | .34 | 17.96 | 16.52 |
| Crude Oil | 1.42 | 56.52 | 69.87 |
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A bearish week for the commodity complex included new contract lows in corn, wheat and live cattle futures.
Corn fell to new lows on lackluster demand on multiple fronts, including for exports and ethanol.
Soybean futures had an up-and-down week but ultimately ended lower.
Both markets were pressured by generally benign Midwest weather and the continued lack of any significant frost threat in the forecast.
Wheat futures made new contract lows in Kansas City and Minneapolis, with K.C.
making a new 14-year low and Minneapolis making a 10-year low.
Cotton futures made a two-week high late in the week, only to turn course and post a bearish outside day lower, as crop damage from Hurricane Dorian in the southeastern U.S.
appeared to be limited.
The grain and oilseed complex as a whole is on the defensive amid technical pressure and pessimism about U.S.-China trade.
While the complex got a modest bump from news that the U.S.
and China are planning to hold high-level meetings in October, at best it appears those negotiations would bring talks back to where they were several months ago.
In the livestock complex, live cattle futures tumbled late in the week on sharp declines in wholesale beef prices and in Plains cash cattle trade.
October live cattle ended limit down on Friday and along with December futures fell to new contract lows.
Packer margins remain enormous at nearly $400, but demand is limited in the wake of the Tyson Foods plant fire in Kansas which resulted in lost industry capacity last month.
Meanwhile Plains cash cattle trade was down by as much as $5 from the prior week.
Lean hog futures surged to multi-week highs only to relinquish their gains late in the week, pressured by the cattle complex and seasonal weakness in the cash hog market.
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