|
|
|
|
|
|
July 5, 2022
In the News
Reminder to update your Farm Show's listing which will run in the upcoming issue of Agri Marketing. Be sure to register for the Agricultural Media Summit, July 16-20, Raleigh, NC. For more information click here. |
|
|
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.6650 | 6.0750 | 5.8900 |
| Soybeans | -0.2900 | 13.9525 | 13.9550 |
| Wheat | -0.9050 | 8.4600 | 6.6550 |
| Cattle | +1.22 | 134.60 | 123.58 |
| Hogs | -3.80 | 102.98 | 100.30 |
| Cotton | -0.57 | 97.48 | 85.90 |
| Milk | -0.36 | 22.42 | 16.77 |
| Crude Oil | +0.81 | 108.43 | 75.23 |
|
Grain and soybean futures were down sharply, with losses accelerating amid a surging U.S.
dollar, technical selling, and a weather forecast lacking severe threats to the Midwest.
Corn, soybeans and wheat all tumbled to multi-month lows.
While Midwest crop conditions are not ideal, parts of the northern and western Corn Belt have seen some helpful rains recently, and forecasts call for just enough rain in the first half of July in most areas to leave soil moisture levels adequate.
Grain and soybean export demand has been lackluster.
That said, the main driver of the selloff was a broader easing of concerns about inflation.
The dollar index has surged to a 20-year high, and the dollar is strong versus both the Brazilian real and the euro, which will continue to have negative implications for U.S.
exports.
Cotton futures were under pressure despite ongoing drought in West Texas.
Worries about food security are easing, and grain prices have fallen back to where they were before Russia invaded Ukraine.
Still, there is plenty of uncertainty about Ukrainian grain supplies and whether they can make it out of the country.
In the livestock complex, lean hog futures fell sharply.
Although hog supplies are seasonally tight, they appear adequate to meet packer slaughter needs with negative operating margins limiting slaughter levels and hog weights continuing to run above last year.
The quarterly Hogs and Pigs report at mid-week held few if any surprises.
The total March 1 hog herd and the March 1 market hog inventory both came in at 99.1% of a year earlier, slightly below the average of trade estimates.
Pork packer margins remain poor.
Live cattle futures were firm, amid solid Plains cash market trade.
Beef demand is likely to decline seasonally after the July 4 holiday.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
