|
|
|
|
|
|
September 19, 2022
In the News
The next issue of Agri Marketing will include a Salute to Latham Hi-Tech Seeds on its 75th anniversary. To schedule your congratulatory ad contact Audrey Evans: AudreyE@AgriMarketing.com. Be sure to register and attend NAMA's Fall Conference in Minneapolis. For more info, click here. |
| Most Read Items From Prior Issue of |  |
|
|
|
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0775 | 6.7725 | 5.2950 |
| Soybeans | +0.3625 | 14.4850 | 12.9600 |
| Wheat | -0.0975 | 8.5975 | 7.1300 |
| Cattle | +0.00 | 150.98 | 128.58 |
| Hogs | +4.85 | 87.98 | 74.45 |
| Cotton | -5.55 | 99.29 | 92.51 |
| Milk | +0.42 | 21.35 | 17.15 |
| Crude Oil | -1.56 | 84.80 | 72.37 |
|
Grain and oilseed futures spent much of the week in retreat amid harvest pressure and questions about commodity demand in an uncertain economy.
Soybeans posted a weekly gain thanks to a surge early in the week following USDA's Crop Report, which surprisingly slashed the expected crop yield.
USDA also slashed its corn crop estimate, not only the yield, which was expected, but harvested acreage as well.
The lackluster performance for corn and soybean prices despite the bullish USDA report is not a good sign.
U.S.
weather is mostly favorable and large South American crops, particularly for Brazil, are expected in 2022-23.
Wheat futures fell, pressured by a huge Russian crop and recent improvements in conditions across Europe.
Drought in the Plains remains a concern.
Cotton futures fell apart late in the week, tumbling to a fresh six-week low.
USDA surprisingly raised its cotton crop estimate in Monday's Crop Report.
Rice futures meanwhile were firm, supported by a friendly USDA report and crop problems in Asia.
Worries about a recession hung over commodity prices, as the monthly CPI report showed that inflation continues to run hot, and FedEx warned that deliveries have plunged in recent weeks.
In the livestock complex, live cattle futures were mostly lower on the week, as support from stronger southern Plains cash trade was offset by seasonal beef market weakness and concerns about the general economy raised by the inflation data.
The seasonal weakness in beef is weighing on packer margins.
Prospects for tightening cattle supplies should remain supportive for futures however.
Lean hog futures rallied strongly as cash hog prices bottomed out at least temporarily amid renewed strength in wholesale pork values.
Unlike cattle, the hog market seemed to largely ignore the economic and inflation worries.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
