|
|
|
|
February 24, 2020
In the News
The next issue of Agri Marketing will include an update on the U.S. dairy market.
|
|
|
|
ADVERTISEMENT
Impact FARMGANTUANS
You get effective multichannel reach of large-scale crop and livestock producers with the Farm Progress marketing tools that include events, print, digital, mobile text, websites, e-newsletters, audience extension, mobile text and more.
Reach the FARMGANTUANS with Farm Progress!
Targeting the top-end producers? We can deliver them.
And ask about our audited demographics - we love to tell our story of engaged producer reach.
Read More
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0125 | 3.8075 | 3.8425 |
| Soybeans | -0.0425 | 8.9900 | 9.2425 |
| Wheat | +0.1050 | 5.5200 | 4.9100 |
| Cattle | -2.08 | 118.25 | 128.60 |
| Hogs | +2.73 | 67.03 | 55.95 |
| Cotton | +0.59 | 69.00 | 74.01 |
| Milk | -0.39 | 16.62 | 14.72 |
| Crude Oil | +1.09 | 53.41 | 56.96 |
|
Grain and soybean futures were mixed on the week, with modest losses in corn and soybeans while wheat and cotton gained.
Corn and soybeans were pressured by the favorable South American crop outlook, and by USDA's projection of increased U.S.
acres this year.
However, at its annual Ag Outlook Forum, USDA issued 2020-21 balance sheet projections that were bearish for corn but bullish for soybeans.
What the USDA did not do was factor in much of a boost to Chinese imports of U.S.
ag products, despite the trade deal that recently went into effect.
There is still considerable uncertainty about the trade deal and Chinese buying, due in large part to the coronavirus outbreak in China.
Cotton prices were firm as export demand remains strong despite the absence of Chinese buying.
In the coming weeks, the trade will increasingly focus on wet conditions across the South and lower Midwest, which threaten the start of the planting season.
The other focus will remain on the coronavirus, which is putting renewed pressure on financial markets and commodities as a surge of cases in Italy have raised new concerns about how the virus is being spread.
In the livestock complex, lean hog futures surged on expectations for China to issue tariff exemptions for U.S.
pork and technically-driven short-covering.
USDA is forecasting a 16.8% rise in U.S.
pork exports this year due to China's need for big imports and the impact of new trade agreements with Mexico and Japan.
Live cattle futures consolidated early in the week and then sold off Thursday and Friday.
Concerns about the spread of the coronavirus and positioning ahead of the Cattle on Feed report were market factors.
The Cattle on Feed report was neutral to slightly friendly.
Plains cash cattle trade was firm on the week.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
