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October 25, 2021
In the News
The next issue of Agri Marketing will include salutes to Wyffels Hybrids on its 75th anniversary and G & S Communications on its 50th!
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.1225 | 5.3800 | 4.1925 |
| Soybeans | +0.0275 | 12.2050 | 10.8375 |
| Wheat | +0.2200 | 7.5600 | 6.3275 |
| Cattle | -1.8750 | 124.10 | 103.35 |
| Hogs | -4.0500 | 73.325 | 67.025 |
| Cotton | +0.93 | 108.26 | 71.29 |
| Milk | -0.07 | 17.87 | 21.63 |
| Crude Oil | +1.48 | 83.76 | 39.85 |
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Grain and oilseed futures were higher, with wheat leading the way and pulling corn along.
Concern about tightening world supplies drove wheat.
Minneapolis wheat led the way, with nearby December futures pushing above the $10 mark for the first time since 2012.
Corn gained with support from wheat as well as from strength in ethanol production.
Ethanol output has finally rebounded after a moribund summer, hitting its second-highest weekly total on record in the week ended Oct.
15.
Another source of underlying support for corn is soaring fertilizer prices, particularly for nitrogen, which is helping to drive questions about 2022 planted acreage.
Any losses in corn acreage would likely be picked up by soybeans, and the bean market struggled during the week.
A lack of fresh export news for soybeans hung over the market.
Another negative for soybean prices is the very favorable start to the Brazil growing season.
Cotton futures were near unchanged in a highly volatile week.
Rice futures were lower.
However concern about the rise in fertilizer prices, and the potential impact on production and global food security, could limit the downside for "staple" crops such as rice and wheat.
In financial markets, major stock indexes made new all-time highs, and crude oil made another 7-year high.
In the livestock complex, lean hog futures tumbled amid technical selling and negative cash markets.
Live cattle futures were also lower ahead of Friday's Cattle on Feed report.
That report looked supportive for the live cattle market as it pegged September feedlot placements at only 97.2%, below the low end of the range of trade expectations and well below the average estimate of 101.4%.
The report put the Oct.
1 feedlot inventory at only 98.5% of a year earlier versus trade expectations that averaged 99.4%.
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