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September 6, 2022
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0150 | 6.6575 | 5.2550 |
| Soybeans | -0.4075 | 14.2050 | 12.8325 |
| Wheat | +0.0575 | 8.1100 | 7.1700 |
| Cattle | +1.50 | 144.55 | 126.05 |
| Hogs | -0.63 | 90.03 | 89.85 |
| Cotton | -14.47 | 103.21 | 93.29 |
| Milk | -0.80 | 19.96 | 16.81 |
| Crude Oil | -6.15 | 86.91 | 69.99 |
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Grain and soybean futures were mixed on the week, with corn and wheat holding firm while soybean prices fell.
The soybean market was pressured by rains in the Midwest that are helping maintain soybean yield potential, which has taken less of a hit this season than corn.
Crop concerns underpinned corn in the wake of a bullish Pro Farmer estimate in the wake of its crop tour.
Both corn and soybeans face pressure from expectations of large South American plantings this season.
Wheat futures were underpinned by the ongoing drought in the U.S.
Plains, as well as concerns about reduced plantings by farmers in Ukraine.
The biggest mover on the week was cotton, which plunged amid technical selling and worries about China's economy.
China's zero-Covid policy continues to take a toll on the economy there and is weighing on demand expectations, for cotton and other commodities.
But rains in the U.S.
South are adding to existing concerns about the U.S.
crop, and historic flooding in Pakistan also threatens global cotton supplies.
Crude oil was pressured by China economic concerns.
The surge in the U.S.
dollar to another 20-year high is negative for commodities generally.
In the livestock complex, lean hog futures rebounded early in the week on support from speculative profit taking driven by oversold technical indicators and futures' wide discounts to cash.
However, futures hit the skids again after Tuesday as cash hog prices remained in a steep slide amid seasonally increasing hog supplies and softening pork demand.
Macroeconomic worries added to the pressure on prices.
Live cattle futures came under some further pressure early in the week from prospects for weaker Plains cash trade this week and worries about a potential economic recession.
However, futures finished the week strongly amid expectations for strong cash trade after Labor Day and shrinking cattle supplies.
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