In the News

The next issue of Agri Marketing will include the Best of NAMA winners! To schedule your organization's ad, contact Audrey Evans at AudreyE@AgriMarketing.com

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Virtually the Best

The Farm Progress Virtual Experience, powered by Farm Progress Show and Husker Harvest Days, is the NEW online event set for Sept. 15-17. Farmers and exhibitors know Farm Progress events move their businesses ahead, and FPVX is set to draw the industry together unlike any other virtual events.

Exhibitors will access ag producers with the most desirable demographic profiles leveraging FPS and HHD attendees, and an even wider audience within our virtual event. Plus, your opportunities to create a custom experience for attendees on the FPVX site and additional sponsorship programs give you revved-up brand impact other events cannot deliver on the scale of our event.
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WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-0.0675	3.2625	4.2400
Soybeans	+0.0425	8.9925	9.0825
Wheat	+0.0475	5.3950	4.9775
Cattle	-1.78	105.10	109.90
Hogs	-0.93	50.15	80.85
Cotton	-1.84	60.10	64.32
Milk	-0.74	21.75	17.71
Crude Oil	+0.43	41.18	55.88

Grain and soybean futures were mixed on the week, with corn sliding in dull action while soybeans and wheat were firm. The corn market was pressured by generally favorable Midwest crop conditions, and a weather forecast that while not ideal is not disastrous either. Hot temperatures this summer have been accompanied by enough rain to avoid significant crop stress in most areas. Soybeans were underpinned by impressive export demand, with USDA announcing a soybean export sale of more than 100,000 metric tons for the ninth day in a row on Friday. Wheat futures were also higher, with support from a plummeting U.S. dollar. The dollar index fell to a two-year low, in a move that has been accompanied by a sharp rally in precious metals prices. Cotton futures fell apart, falling on non-existent export demand and concerns about U.S.-China relations. Crude oil futures were up slightly but remain near $40 amid concern about the global economy and stalling gas demand. Hanging over U.S. ag markets, and the economy generally, was a continued deterioration in U.S.-China relations.

In the livestock complex, live cattle futures were down on the week, pressured by futures' premium to cash trade. Traders spent much of the week awaiting key USDA reports on Friday. USDA's Cattle Inventory report showed modest beef cow herd liquidation with the cow herd at 99.3% of a year earlier. The monthly Cattle-on-Feed report looked neutral, pegging the July 1 feedlot inventory at 100.0% of a year earlier, in line with the average of expectations. Placements at 102% of a year ago were down from the average analyst estimate of 103.8%. Marketings were right on the average analyst estimate, at 101.0% of a year ago. The July 1 feedlot inventory was still historically high for the date. Demand for beef and pork has been limited by the prolonged stretch of above-average heat in much of the U.S.

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