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September 23, 2019
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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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0200 | 3.7075 | 3.5250 |
| Soybeans | -0.1600 | 8.8275 | 8.5025 |
| Wheat | +0.0075 | 4.8425 | 5.2400 |
| Cattle | +0.7800 | 105.15 | 117.90 |
| Hogs | -2.4500 | 66.25 | 58.28 |
| Cotton | -1.7600 | 60.52 | 78.47 |
| Milk | -0.0500 | 18.26 | 16.14 |
| Crude Oil | +3.2900 | 58.09 | 70.32 |
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A relatively dull week in the grain and oilseeds complex turned eventful late Friday on trade news.
Soybeans have drifted sideways and lower throughout the week, then sold off sharply on Friday afternoon reports that a mid-level Chinese trade delegation had cancelled planned tours of U.S.
agriculture in Montana and Nebraska.
That cancellation was initially seen as a negative response to comments by President Trump that he was willing to wait until after the 2020 election for a trade deal.
However, China subsequently clarified over the weekend that the cancellation was not a signal about trade talks.
The bigger negotiations come next month, when "high-level" talks occur between the two countries.
The grains complex was pressured during the week by generally favorable weather across the Midwest, including above-normal temperatures that are to persist into early October.
That means no early frost, which has been a central question hanging over the market.
The exception to the benign weather has been the northwest Corn Belt and northern Plains, where excessive rains pose a challenge to the coming corn and soybean harvest.
Those rains have also brought spring wheat harvesting to a halt and caused quality issues, which propelled Minneapolis spring wheat futures.
In other markets, crude oil futures soared to start the week on a drone attack on key Saudi Arabia oil facilities.
Those attacks have been tied to Iran.
Crude futures trimmed gains for most of the rest of the week but was still sharply higher.
Live cattle futures ended the week with modest gains on firm cash trade as traders awaited the monthly Cattle on Feed report.
That report was bullish, showing feedlot inventories at 98.7% of a year earlier.
It was the first year-over-year drop in feedlot inventories since December 2016.
Lean hog futures fell on soft cash hog prices and a lack of Chinese pork buying.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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