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March 29, 2021
In the News
Did you miss last week's National Ag Day celebration? You can view the video of that terrific event here. |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0525 | 5.5250 | 3.4875 |
| Soybeans | -0.1575 | 14.0050 | 8.8025 |
| Wheat | -0.1375 | 6.1325 | 5.6900 |
| Cattle | +3.10 | 121.78 | 93.55 |
| Hogs | +5.00 | 105.60 | 68.75 |
| Cotton | -4.30 | 80.38 | 52.78 |
| Milk | -0.25 | 17.53 | 14.56 |
| Crude Oil | -0.55 | 60.89 | 22.60 |
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Grain and oilseed futures were down on the week, with corn and soybeans seeing choppy trade.
Corn has been in a sideways, choppy trading pattern for several weeks, and soybeans have also been choppy as traders try to gauge U.S.
acreage potential.
Strong prices will encourage more plantings, and a favorable April weather outlook also hangs over prices.
Soybean oil, which had helped prop up soybeans through much of the past month, flamed out in spectacular fashion last in the week, and posted a large bearish weekly reversal.
However, strong interior basis levels for corn and soybeans point to solid domestic demand.
Wheat made three-month lows in Chicago and Kansas City, amid technical selling and benign weather conditions in most key wheat-growing areas.
Cotton futures were under pressure for most of the week and tumbled on Thursday.
Crude oil was down slightly on the week in volatile trade, as investors tried to gauge the impact of the large container ship stuck in the Suez Canal.
In the livestock complex, lean hog futures soared to new highs, with front-end contracts leading the way on support from strong pork demand and tightening hog supplies.
Thursday's USDA Hogs and Pigs report only added more fuel to the bullish fire, pegging the U.S.
hog herd, the market hog inventory and the breeding herd below trade expectations along with spring and summer farrowing intentions.
After ending the prior week in ugly fashion, live cattle futures rose all five days of the week.
The market was bolstered by strong wholesale beef prices and a jump in Plains cash cattle prices for the first time in several weeks.
Negotiated cash live cattle trade occurred at mostly $115-$116, $1 higher than the previous week's sales.
Prices had been stuck mostly at $114 for several weeks prior.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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