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December 20, 2021
In the News
Forms have been e-mailed to update your organization's info in the 2022 Agri Marketing Services Guide. If you haven't received your form, send us a message at msg@agrimarketing.com.
To schedule your ad, contact AudreyE@AgriMarketing.com. Thanks and Happy Holiday Greetings!
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0325 | 5.9325 | 4.3250 |
| Soybeans | +0.1425 | 12.8850 | 12.0550 |
| Wheat | -0.1025 | 7.7500 | 6.0875 |
| Cattle | -1.65 | 136.43 | 114.45 |
| Hogs | -0.23 | 80.80 | 65.50 |
| Cotton | +1.07 | 107.30 | 77.19 |
| Milk | -0.44 | 19.38 | 15.64 |
| Crude Oil | -0.72 | 70.76 | 48.54 |
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Corn and soybeans were underpinned by concern about South American weather and technical strength.
Corn made a three-month high in the nearby March contract, and while the gain for the week was modest, March corn still posted its highest Friday close since early June, with the question now being if it can take out the $6 level.
For soybeans, the focus is largely on South American weather and the crop outlook.
The outlook remains for a large crop, but bulls' predictions of dryness becoming an increasing threat in southern Brazil and eastern Argentina do seem to be materializing.
On the demand side, ongoing concerns about the U.S.
soybean export window ending early are hanging over prices.
Looking further ahead, predictions of a big U.S.
shift in acres away from corn and to soybeans appear to be overblown.
Wheat was pressured by technical selling and a lack of fresh U.S.
demand.
A remarkable December storm system that spread 80 mile-per-hour winds and dust storms across the central and southern Plains did not have much market impact, though it did underscore the threat drought could pose to the hard red winter wheat crop in 2022.
Grains complex Trading should be light during the next several days due to the holidays, but thin trade could enable some volatility and significant price moves.
In financial markets, investors continue to digest the spread of the Omicron variant, and the potential for it to cause more lockdowns and economic stress.
Those concerns did not help the demand outlook for livestock markets.
Cattle and hog futures were under pressure.
Live cattle futures were pressured by Plains cash trade that occurred $2 to $4 lower from the prior week.
That weakness could continue with packers operating in a reduced holiday schedule.
Meanwhile beef packer margins, while still positive, have contracted dramatically over the past several weeks.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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