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September 12, 2022
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.1925 | 6.8500 | 5.1000 |
| Soybeans | -0.0825 | 14.1225 | 12.7050 |
| Wheat | +0.5850 | 8.6950 | 6.9225 |
| Cattle | +1.13 | 145.68 | 123.75 |
| Hogs | +3.15 | 93.18 | 85.48 |
| Cotton | +1.63 | 104.84 | 93.22 |
| Milk | +1.00 | 20.94 | 17.55 |
| Crude Oil | -0.47 | 86.40 | 68.14 |
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Grain prices were mostly higher on the week, fueled in part by new questions over the Russian agreement to allow Ukraine grain exports out of the Black Sea region.
Comments by Vladimir Putin criticizing the agreement, along with drought in the U.S.
Plains and in Europe, propelled wheat prices.
A military breakthrough by Ukraine to re-take a significant amount of territory in the eastern part of the country also raised short-term questions about exports.
Wheat helped to lift corn higher, as traders awaited Monday's USDA crop report.
Soybeans were in retreat during the week, though the fundamental outlook changed with a bullish soybean crop estimate in the Sept.
12 report.
Cotton futures were higher on the week amid short-covering after recent losses.
Outside financial markets turned from a bearish factor to a supportive one as the week wore on, as the dollar index fell sharply after setting a 20-year high, and crude oil rebounded from a multi-week low.
Concerns about the economies in both Europe and China hung over the global commodity demand outlook.
In the livestock complex, live cattle futures rose for the second straight week, finding support from firm southern Plains cash markets and improved U.S.
economic data as well as from ongoing expectations for cattle supplies to tighten later this year and next.
Wholesale beef prices have held up well from a seasonal standpoint, but there could still be seasonal weakness in the wholesale market into October, when retailers may start stocking up for year-end holiday features.
Lean hog futures ended a very choppy week with modest gains on apparent support from speculative short covering and bargain hunting spurred partly by their continued discounts to cash, even as the CME cash lean hog index continued to plunge.
The CME cash hog index has plunged about $22 in roughly a month.
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