In the News

The next issue of Agri Marketing will feature a Salute to AAEA--The Ag Communications Network on its 100th anniversary! To schedule your ad, contact Audrey Evans at 515-954-8589; AudreyE@AgriMarketing.com. Congratulations to the Ag Editors.

ADVERTISEMENT

Go Whole Hog

Build your marketing muscle among pork producers with National Hog Farmer. As with hog and pig genetics, you want proven performance — National Hog Farmer's pedigree is built on its powerful user-engaged brand and multilayered audience impact tools.

Use our innovative marketing ideas to boost your marketing strategy to reach pork producers — print, digital, mobile, virtual events, advanced digital producer ID and engagement solutions and more.
Read More

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.0775	3.2575	4.1875
Soybeans	+0.0750	8.4075	8.7200
Wheat	+0.1200	5.2075	4.9050
Cattle	+2.27	99.60	107.85
Hogs	+1.13	57.03	87.80
Cotton	-0.02	57.59	69.06
Milk	+1.47	18.50	16.07
Crude Oil	+2.24	35.49	58.81

Grain and soybean futures were higher on the week amid support from an expected heat wave in the Midwest and a weaker U.S. dollar. Hot and mostly dry weather expected in the first 10 days of June in the Corn Belt was supportive. However with the exception of a few spots in Iowa and Minnesota, and in the western Plains, dryness is not a major issue entering the month, and the crop outlook is still strong for corn and soybeans after a mostly smooth planting season. While the fundamental outlook for corn remains negative with a huge expected domestic carryout for 2020-21, technically the market enters June with some momentum. Interest in trading corn has suddenly picked up, and the latest Commitment of Traders report from the CFTC shows commercial traders swinging to a rare net long position, which is an encouraging sign for bulls. On the negative side, export demand remains lackluster for corn and soybeans and there are ongoing concerns about U.S.-China relations. A Friday afternoon announcement on China by President Trump was not the cancellation of the trade deal as some had feared, but the relationship between the two countries is deteriorating further due to China's tightening grip on Hong Kong.

In the livestock complex, live cattle futures were strong early in the week, with June hitting a 12-week high, on support from their discount to Plains cash trade and speculative bargain-hunting. The market pulled back late in the week amid fears about the U.S.-China relationship. Wholesale beef prices continue to gradually come back to earth from the astronomical levels they reached in early May amid slack demand and recovering slaughter levels. Lean hog futures had a mixed week, with ongoing pressure from large supplies of heavyweight hogs and falling wholesale pork prices.

Click on the Brock logo or call 1-800-558-3431 for more info on our services.