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April 25, 2022
In the News
The next issue of Agri Marketing will include the annual listing of the largest Ag/Rural marketing communications agencies. To schedule your ad, contact Audrey Evans: AudreyE@AgriMarketing.com.
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| Most Read Items From Prior Issue of |  |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0525 | 7.8900 | 6.3150 |
| Soybeans | +0.2275 | 16.8800 | 15.1425 |
| Wheat | -0.2925 | 10.7525 | 7.1050 |
| Cattle | +2.00 | 138.43 | 115.85 |
| Hogs | +0.30 | 118.78 | 103.55 |
| Cotton | -4.86 | 135.85 | 86.05 |
| Milk | -0.88 | 24.58 | 18.68 |
| Crude Oil | -4.67 | 101.71 | 61.43 |
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Grain and oilseed futures were mixed on the week as traders start focusing on Midwest planting weather.
Corn was pressured as the weather outlook for the lower Corn Belt into the South turned more favorable, though losses were limited by strong recent demand from China.
Soybeans rose steadily throughout the week until Friday, fueled in part by soybean oil, which soared to a new all-time high on soaring palm oil prices, which were propelled by a ban on palm oil exports by Indonesia.
However, after failing to make new contract highs on Friday the soybean market retreated and posted a large bearish reversal on the daily chart.
Wheat futures were pressured by prospects for a large Russian crop, as well as lackluster demand for U.S.
wheat despite the concern about Ukrainian supplies.
The downside in wheat was limited by the severe drought in the southern and western Plains, and extended forecasts showing little sign of relief.
Cotton and crude oil were both pressured by demand concerns tied to the lockdown in Shanghai as China sticks to its "zero-Covid" policy.
In the livestock complex, lean hog futures started very strongly on Monday, but then sold off three straight sessions before bouncing a bit on Friday.
Demand concerns spurred by uncertainty about the general economy and poor U.S.
pork exports pressured futures, but firm cash hog/wholesale pork prices and prospects for tighter hog supplies ahead limited selling, as did concern that high feed costs will prevent herd expansion.
Technically, lean hog futures look like they put in a major top back in late March.
Live cattle futures were up on the week as cash prices in the Plains jumped.
But Friday's Cattle-on-Feed report looked bearish for prices as USDA pegged March feedlot placements at 99.6% of a year earlier, topping trade expectations that averaged only 92.2%.
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