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September 21, 2020
In the News
The next issue of Agri Marketing will include the annual Farm Show Guide. To schedule your Show's ad, 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 | +0.1000 | 3.7850 | 3.7125 |
| Soybeans | +0.4750 | 10.4350 | 8.8875 |
| Wheat | +0.3300 | 5.7500 | 4.8950 |
| Cattle | +1.95 | 111.85 | 106.15 |
| Hogs | -2.48 | 63.53 | 67.80 |
| Cotton | +0.85 | 65.66 | 60.50 |
| Milk | +0.36 | 19.57 | 18.73 |
| Crude Oil | +3.43 | 41.08 | 58.04 |
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Grain and soybean futures rocketed higher, led by soybeans on robust Chinese demand.
Soybeans surged to a two-year high as China or "unknown" made purchases of U.S.
soybeans every day of the week, for a total of 11 days in a row.
The market also had support from deteriorating U.S.
crop expectations, and speculative buying by traders trying to ride the trend.
The soybean market helped drag corn higher as well.
However, corn's gains were limited by a very favorable harvest weather outlook that shows mild and dry conditions into the first week of October.
Early corn yields are also coming in better than expected.
Wheat futures surged, with Chicago and Kansas City wheat making multi-month highs amid dry conditions in various wheat-producing regions of the world.
Cotton futures were up on the week thanks to an early-week surge driven in part by Chinese demand.
Rice futures were higher in very low volume.
Longer-term, deferred grain and oilseed futures contracts were pressured by expectations of increased acreage in 2021, particularly by soybeans.
The White House announcement of another $14 billion in aid to farmers tied to the coronavirus could further support 2021 plantings.
Crude oil futures bounced back after sharp losses the prior week, as the market climbed back above the $40 level.
In the livestock complex, live cattle futures rallied for a second straight week on support from firmer cash prices, expectations for tighter market-ready cattle supplies during the fourth quarter and technically-driven buying.
Futures pushed higher despite further seasonal weakness in wholesale beef prices and weakening packer operating margins.
Lean hog futures were lower, consolidating in the wake of the prior week's sharp gains.
Support from strong cash hog prices was offset by indications that China's hog herd recovery is accelerating.
Most-active December lean hog futures charted a major bearish reversal to start the week.
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