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December 13, 2021
In the News
Forms to update your organization's info in the 2022 Agri Marketing Services Guide were e-mailed last Tuesday. If your organization did not receive the e-mail, please contact us at msg@agrimarketing.com and tell us the name of your firm and your contact's e-mail address. Thank you!
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0600 | 5.9000 | 4.2125 |
| Soybeans | +0.0050 | 12.6775 | 11.5275 |
| Wheat | -0.1850 | 7.8525 | 5.9650 |
| Cattle | -0.87 | 138.08 | 111.85 |
| Hogs | -0.47 | 81.03 | 65.10 |
| Cotton | +2.03 | 106.23 | 74.26 |
| Milk | +1.17 | 19.94 | 16.31 |
| Crude Oil | +5.50 | 71.60 | 46.96 |
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Grain futures were mixed in a lackluster week of trade, with Thursday's USDA report offering very little in the way of market-moving news.
USDA left the corn and soybean balance sheets unchanged, while raising the expected 2021-22 wheat carryout a little more than expected.
Soybeans were underpinned during the week by a string of daily export sales reported to China or "unknown" destinations, although that streak of purchases ended late in the week.
Going forward traders will be keeping a close eye out for more Chinese buying of U.S.
soybeans and any weather issues in S.
America.
But in Brazil, outside of the southernmost province of Rio Grande do Sul, which is in a drying trend, conditions look very good and favorable rains are expected in most areas.
Some crop stress is also expected to develop in northern and east-central Argentina, but the rest of the country should be in good shape for a while.
The Brazil soybean harvest looks poised to start early, which could further close the export window.
Wheat futures were pressured by technical selling and a lack of fresh demand news.
Cotton futures rallied, regaining a chunk of their recent losses.
In financial markets, investors continued to weigh the potential impact of the Omicron variant, which appeared to be more transmissible but less severe.
Crude oil rallied.
In the livestock complex, lean hog futures were under heavy pressure early in the week from technical selling and demand concerns, but those demand worries faded as wholesale pork values rebounded sharply at mid-week.
Live cattle futures came under renewed pressure as the rally in cash cattle prices stalled out with packer demand easing ahead of the holidays.
Further weakness in wholesale beef prices also likely limited packer demand for cattle.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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