In the News

The next issue of Agri Marketing will feature a Salute to Hawkeye Steel Products company celebrating its 100th anniversary. Mfgr of Pride of the Farm, Conrad grain bins and other farmstead equipment. To schedule your congratulatory ad, contact Audrey Evans at: AudreyE@AgriMarketing.com

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See, Believe, Benefit

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.
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WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.0350	3.8925	3.8000
Soybeans	-0.1625	9.2975	9.0775
Wheat	+0.0600	5.7050	5.1775
Cattle	-1.08	126.35	127.10
Hogs	+0.42	67.68	60.85
Cotton	-0.06	71.25	74.37
Milk	+0.48	17.46	14.14
Crude Oil	-0.40	58.59	52.36

It was quite a week in the ag complex, as futures sold off sharply following the signing of the U.S.-China trade deal in what seemed to be a classic "buy the rumor, sell fact" scenario, before markets rebounded strongly on Friday. The late-week rally pushed corn and wheat back into positive territory. The U.S. and China signed the trade deal as expected on Wednesday. There weren't many details about specific commodities, but the trade agreement reaffirms previous reports that China would buy an unprecedented amount of U.S. ag products during the next two years. However, comments from China's Vice Premier that China's purchases would be "based on market conditions," were greeted negatively by traders, and helped to keep soybeans in negative territory on the week. Now the trade awaits an actual surge in Chinese purchases. Meanwhile South American weather is largely favorable as is the crop outlook, although there are some pockets of dryness. Wheat futures continued to be underpinned by firm global prices and demand. Rice futures made a new contract high on Friday, and hit their highest level since 2014 on a front-month basis.

In the livestock complex, lean hog futures were steady on the week, underpinned by solid cash markets as hog supplies start to tighten seasonally. Traders appeared disappointed by the details of the U.S.-China trade agreement. Live cattle meanwhile remained locked in mostly choppy, sideways trade. The market fell on Thursday in the wake of the U.S.-China trade deal signing and concerns that Plains cash markets may be at a top, but the market recovered nicely on Friday. Feeder cattle futures were down on the week but remained in their recent sideways trading pattern. Plains cash prices were mostly steady at $124, a negative sign at a time when market-ready supplies are seasonally tight.

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