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April 4, 2022
In the News
Our apologies! Last Saturday afternoon we sent an alert the next issue of Agri Marketing is available for viewing and includes the Best of NAMA winners. This message was inadvertently sent due to a scheduling error. In fact, the issue with the winners will go live to be viewed immediately following the NAMA awards ceremony this Wednesday. Stay tuned.
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.1900 | 7.3500 | 5.4650 |
| Soybeans | -1.2750 | 15.8275 | 14.1425 |
| Wheat | -1.1775 | 9.8450 | 6.1250 |
| Cattle | -1.53 | 135.85 | 121.08 |
| Hogs | -5.40 | 120.45 | 103.33 |
| Cotton | -1.35 | 134.55 | 78.44 |
| Milk | -0.53 | 24.48 | 17.32 |
| Crude Oil | -14.41 | 99.49 | 58.56 |
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Grain and soybean futures were mostly lower on the week, pressured by optimism about a ceasefire in Ukraine, plummeting crude oil prices and technical selling.
The market fell early in the week as Russia troops started to pull back from Kyiv.
However, by the end of the week Russia had downplayed any progress in peace talks and it was clear that it's retreat from Kyiv did not signal a broader exit from the country.
Still, expectations for Ukraine winter wheat harvesting and spring planting has improved some.
The other main event of the week was Thursday's USDA Prospective Plantings and March 1 Grain Stocks reports.
The plantings report showed much-lower corn acreage than expected, and higher soybean acreage, indicating the impact of sky-high fertilizer costs.
The quarterly stocks report was also bearish for soybeans.
Traders now are beginning to focus more on U.S.
weather, which is pointing toward a sloppy early planting season in the Midwest.
Cotton futures soared to new highs to start the week, but spent most of the rest of the week in retreat.
Crude oil futures dropped amid the optimism about peace in Ukraine, and a sharp drop in fuel demand due to soaring gas prices at the pump.
In the livestock complex, lean hog futures fell sharply amid demand concerns and profit-taking.
Wednesday afternoon's USDA quarterly Hogs and Pigs report, which pegged the size of the U.S.
hog herd below most trade estimates and showed further liquidation of the U.S.
sow herd, pointing to lower production ahead, was already factored into the market by the time it was released.
Live cattle futures were lower, pressured by the hogs and weaker feeder cattle prices.
Plains cash cattle trade was largely steady with the prior week, at $138-40.
Concerns about inflation and the economy hang over the demand outlook.
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