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January 24, 2022
In the News
The next issue of Agri Marketing will include updates on the Dairy and Fruits & Vegetable markets. To schedule your ad contact Audrey Evans at AudreyE@AgriMarketing.com. |
| Most Read Items From Prior Issue of |  |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.2000 | 6.1625 | 5.2425 |
| Soybeans | +0.4450 | 14.1425 | 13.7025 |
| Wheat | +0.3850 | 7.8000 | 6.6075 |
| Cattle | -0.03 | 142.10 | 119.95 |
| Hogs | +6.50 | 94.95 | 73.90 |
| Cotton | +1.05 | 120.75 | 82.57 |
| Milk | -1.54 | 20.54 | 16.46 |
| Crude Oil | +1.79 | 85.09 | 53.13 |
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Grain and soybean futures surged, driven by outside market support and concern about South American crop potential.
Soybeans' rally was led by soybean oil, which climbed as crude oil jumped to a fresh 7 1/2 -year high.
Heat and dryness in Argentina and parts of Brazil have led to diminished crop expectations, although there is still plenty of time left in the season and the forecast going forward is now looking better.
Wheat was another big gainer, jumping on increasing concern that Russia is set to invade Ukraine, which could disrupt trade flows and exports out of the region.
Drought in the U.S.
Plains is another supportive factor.
Corn was lifted by soybeans and wheat.
Traders will soon start to look more closely at acreage expectations for the U.S.
this year, and a well-publicized farmer survey indicates a sharp drop in corn acreage in favor of soybeans, due largely to increased fertilizer costs.
Those fertilizer prices are starting to drop at the wholesale level, but retail prices generally have not followed lower as of yet.
Cotton futures surged to new contract highs in both old-crop and new-crop, with support from strong export demand and the gains in crude oil.
Growing unease about the economy and a plummeting stock market do not bode well for the livestock complex, but lean hog futures surged last week, making new contract highs.
Reduced hog shipments from Canada, due to trucking disruptions tied to the pandemic and vaccinations, supported prices.
Live cattle futures were subdued as traders awaited Friday afternoon's Cattle on Feed report.
That report came in a little bearish for cattle prices as USDA pegged the Jan.
1 feedlot inventory and December feedlot placements above all trade estimates while, December feedlot marketings were below the average of pre-report estimates.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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