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January 3, 2022
In the News
Entries for Agri Marketing's Product of the Year are now open. For more info click here. Ad reservations for the Agri Marketing Services Guide are closing soon. To reserve your spot contact AudreyE@AgriMarketing.com. |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.1250 | 5.9325 | 4.8400 |
| Soybeans | -0.0150 | 13.3925 | 13.1100 |
| Wheat | -0.4400 | 7.7075 | 6.4050 |
| Cattle | +0.07 | 139.70 | 115.03 |
| Hogs | -1.75 | 81.48 | 70.28 |
| Cotton | +3.48 | 112.60 | 78.12 |
| Milk | +0.55 | 20.04 | 15.80 |
| Crude Oil | +1.42 | 75.21 | 48.52 |
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Grain and soybean futures were under pressure for most of the week in light holiday trade.
Corn was pressured by a lack of fresh demand, and ideas that contrary to earlier expectations, U.S.
2022 acreage will not see much of a drop-off despite surging fertilizer prices.
Despite this week's losses, front-month corn still ended the year with a gain of $1.08.
Soybeans were pressured by concern that the prime U.S.
export window is about to close with a large Brazilian crop on the way.
However, Brazilian soybean crop expectations are starting to deteriorate rapidly due to heat and dryness in the south.
Soybeans gained 13 cents on the year, a lackluster performance compared to corn and wheat.
However while wheat was up sharply on the year, with a gain of nearly $4 in Minneapolis spring wheat, the market was the big loser in the last week of the year.
It was pressured by a lack of demand news and much-welcome snow in the Central Plains that will provide moisture as well as protect against winterkill.
Drought remains an issue across the western half of the U.S., although there has been some substantial improvement in California and into the Pacific Northwest in the past couple of weeks.
Cotton futures surged, boosted by gains in crude oil and technical buying, with December cotton re-approaching its contract high.
Crude oil gained with the help of continued strong fuel demand.
Cattle and hogs, while up 20 to 25% on the year amid widespread gains in commodities, were steady-to-lower in the past week.
Lackluster Plains cash cattle trade was a negative factor.
Commodity traders and investors continue to track the spread of the Omicron variant.
It is spreading very rapidly around the country but also appears to be less severe, leading to hopes that the worst of the pandemic will soon be in the past.
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