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January 4, 2021
In the News
We are distributing the forms to update your organization's listing in the annual Agri Marketing Services Guide. Please respond promptly. To schedule your ad, contact Audrey Evans: AudreyE@AgriMarketing.com. Happy New Year to all!
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.3300 | 4.8400 | 3.8775 |
| Soybeans | +0.4650 | 13.1100 | 9.5550 |
| Wheat | +0.1350 | 6.4050 | 5.5875 |
| Cattle | +0.05 | 115.03 | 125.93 |
| Hogs | +3.33 | 70.28 | 71.43 |
| Cotton | +1.92 | 78.12 | 69.05 |
| Milk | -0.20 | 17.49 | 17.38 |
| Crude Oil | +0.27 | 48.50 | 61.06 |
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Grain and oilseed bulls partied through New Year's Eve, as prices soared to new contract highs and six-year highs for corn, soybeans and wheat.
The market was fueled by speculative buying driven by technical strength, talk of Chinese corn buying and concern about tight U.S.
soybean supplies.
Soybeans have remained the upside leader, and front-month bean futures gained $1.47 in December and $3.72 on the year.
Corn gained 96 cents for the year.
Wheat has at times been a reluctant follower, but it broke out in the past week to new highs, with Chicago gaining 81 cents on the year and Kansas City gaining $1.17.
Fundamentally, talk of Chinese corn-buying remained largely unverified, and while U.S.
corn exports are well above a year ago, they remain below the pace needed to meet USDA's projection.
In soybeans, nearby futures are at a large premium.
The market is worried about very tight 2020-21 supplies and the prospect of a carryout well below 200 million bushels, but large plantings next year will likely create a very different dynamic for 2021-22.
Cotton futures also ended a strong year with a strong week, making new two-year highs.
Front-month cotton gained 6 cents on the month and 9 cents on the year.
Outside financial markets have been supportive recently and throughout the past several months.
The dollar index has continued to make new 2 1/2 -year lows, which is friendly to U.S.
export prospects, while the Dow was making new all-time highs into late December.
Livestock markets were firm in the past week, particularly lean hog futures, which surged late in the week with the help of a big jump in wholesale pork values.
Pork export demand in the past month has also been supportive.
Live cattle futures were underpinned by stronger Plains cash cattle trade.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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