In the News

The October issue of Agri Marketing will include a Salute to the Assn of Equipment Mfgrs celebrating its 125th Anniversary! For more information, contact Audrey Evans at AudreyE@AgriMarketing.com, Ph: 515-954-8589.

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See and believe
The 2019 Farm Progress Show and Husker Harvest Days were incredible. Each event featured amazing exhibits that wowed enthusiastic HUGE crowds of farmers; national, regional and local dignitaries; stars and more - two impressive fall shows!

Beyond the glitter, Farm Progress Show and Husker Harvest Days set the pace for world-class farm events, and exhibitors know the ROI these venues deliver. Not an exhibitor? Now's the time to make your plans for 2020.
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WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.1325	3.6875	3.5050
Soybeans	+0.4100	8.9875	8.3325
Wheat	+0.1975	4.8350	1.1480
Cattle	+4.63	104.38	115.40
Hogs	+6.23	68.70	55.93
Cotton	+3.70	62.28	81.51
Milk	+0.35	18.31	16.13
Crude Oil	-1.67	54.85	68.59

Grain and soybean futures surged amid new optimism on U.S.-China trade. Corn futures made new contract lows early in the week only to come storming back and post a large bullish reversal on the weekly chart. Soybeans also posted a bullish weekly reversal. The main driver appeared to be optimism about trade, including moves by China to buy more U.S. ag products, particularly soybeans and pork. Both the U.S. and China are extending olive branches ahead of planned "high-level" trade talks in October. However any actual trade deal is still weeks, or more likely months, away. The grains complex also had support from heavy rains across the Upper Midwest, which started to feed concerns about a sloppy, slow harvest. But temperatures are expected to be above-normal through the end of September at least, allowing for quicker drying and giving late-planted crops a chance to reach the finish line before a first frost. Cotton futures soared on technical buying and China optimism. Thursday's monthly USDA report did not contain any huge surprises for the grain and oilseed complex. It cut the projected size of the U.S. corn and soybean crops, but not as much as expected. The biggest surprise was in rice, as USDA cut its long-grain carryout projection by one-third from last month.

In the livestock complex, lean hog futures also soared, driven largely by the prospect of increased pork buying by China. Lean hogs settled limit up in many contracts both Thursday and Friday. Both lean hogs and live cattle were highly volatile during the week. Live cattle dropped to new contract lows on Monday but then rallied strongly, driven by the strength in hogs and short-covering in a market that was oversold. Cash cattle prices remained soft however, and wholesale beef values were down sharply amid lackluster seasonal demand.

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