In the News

Be sure to register and attend the National Assn of Farm Broadcasting's (NAFB) annual convention, Nov. 16-18, Kansas City, MO. For more info click here.

Purdue Economist's Report Shows Farmers' Net Assets Have Risen Over $1 Trillion Since 2012
Deloitte Study Reports Allure Of Plant-Based "Meat" Is Wearing Off, An Addressable Market?
Yara Calls For Urgent Action To Reduce Europe's Food Dependency On Russia
Mississippi River At Its Lowest Point In A Decade, Barge Traffic Stopping

Ag Machinery Platform Tractor Zoom Announces $5 Million In Series A Funding

Most Read Items From Prior Issue of

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+0.0575	6.8325	5.3400
Soybeans	+0.0225	13.6700	12.4725
Wheat	-0.4125	8.8025	7.4125
Cattle	+1.00	148.05	130.10
Hogs	+0.93	77.15	82.03
Cotton	-1.11	84.23	111.61
Milk	+1.21	21.84	18.74
Crude Oil	+13.07	92.56	78.30

Grain and soybean futures were mixed last week, with corn and soybeans seeing underlying support from surging crude oil prices and a cold snap in the Midwest. Gains for corn and soybeans were limited however by weak export demand and by harvest pressure. There is significant concern about U.S. exports due to historically low water levels on the Mississippi River, which is causing barges to back up and to transport less grain per barge. Weather forecasts showing limited rain in the Midwest through the end of October added to the concern. Cotton futures remained under pressure, making a 13-month low in the December contract amid weak demand. Wheat fell amid lackluster demand, although prices were firm headed into the weekend. Over the weekend, Ukraine's apparent bombing of a key bridge in Crimea, and Russia's retaliation involving dozens of missile attacks on Ukraine cities, reignited concerns about Ukrainian supplies, helping propel prices to start this week.

Crude oil futures are surging, making multi-month highs after OPEC and Russia agreed to cut production quotas by two million barrels per day. The dollar index meanwhile is re-gaining strength, climbing on expectations that the Fed will remain aggressive in raising interest rates. In the livestock complex, live cattle futures posted moderate gains in a choppy week of trading, finding support early in the week from easing economic concerns, then from stronger cash trade. While the live cattle supply fundamentals look supportive for prices, there continues to be a great deal of demand uncertainty with late-week signs pointing to continued aggressive interest rate hikes by the Fed and the potential for a hard landing by the economy. Lean hog futures had a roller-coaster of the week. A firmer wholesale pork market and solid pork export sales were supportive for futures along with the prior week's USDA hog inventory data.

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