|
|
|
|
|
|
December 14, 2020
In the News
Entries for Agri Marketing's Product of the Year program are now open! For more info click here. |
|
|
|
ADVERTISEMENT
Homegrown Local
Grow your producer connections when you engage with Farm Progress state and regional audiences.
Local means relevant — relevancy breeds engagement.
Our staff editors situated across the country deliver regionally tailored ag production content.
Farm Progress and Farm Press state and regional branded content includes magazines, websites, apps and e-newsletters.
Soils are different.
Moisture, growing season — so many variables influence our coast-to-coast readers' and users' production decisions.
As readers tell us over and over — local production information is the most useful.
Since 1841, we've followed this guiding principle and continue to deliver the insights producers want and need.
Read More
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0300 | 4.2350 | 3.7125 |
| Soybeans | -0.0250 | 11.6050 | 8.9350 |
| Wheat | +0.3900 | 6.1450 | 5.1925 |
| Cattle | +0.85 | 113.25 | 125.33 |
| Hogs | -3.35 | 63.23 | 67.73 |
| Cotton | +2.51 | 74.08 | 65.88 |
| Milk | +0.57 | 16.29 | 18.19 |
| Crude Oil | +0.30 | 46.56 | 58.76 |
|
Wheat was the star of the grain futures complex, surging amid declining Russian crop expectations and plans for a wheat export tax there.
With food prices in Russia climbing, officials are considering a substantial wheat export tax from February through June.
Winterkill and emergence problems are driving crop expectations in Russia lower, although in the near-term the country still has large supplies to export.
Corn and soybean futures had a more quiet week.
Weather forecasts calling for mostly favorable weather in Brazil for the next couple of weeks helped to keep a lid on prices, although there is still plenty of uncertainty and concern about crop potential that may have already been lost due to dryness early in the season.
Dryness in Argentina is also a concern.
Soybean export demand has largely faded.
Corn export demand remains robust, although the demand outlook is clouded by weak margins in the ethanol industry.
Cotton futures surged to their highest level in more than 18 months, with support from Chinese export demand and a bullish USDA Supply and Demand report, which slashed the Texas cotton crop estimate.
The USDA report was largely a non-event for corn and soybeans.
Crude oil futures rallied to a 9-month high, despite one of the largest weekly crude stockpile builds on record.
The crude market, as well as equities, were boosted by prospects for the imminent rollout of a coronavirus vaccine.
The optimism about the economy helped underpin live cattle futures, which were firm despite disappointing Plains cash cattle trade and continued declines in wholesale beef prices.
While packer margins remain favorable, they have contracted significantly due to the weakness in beef.
Plains cash cattle trade was down by as much as $2 to $4 from the prior week.
Lean hog futures were lower, as supplies remain ample to meet demand.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
