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December 19, 2022
In the News
Entries to Agri Marketing's Product of the Year are now open. For more information click here. |
| Most Read Items From Prior Issue of |  |
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.0900 | 6.5300 | 5.9125 |
| Soybeans | -0.0375 | 14.8000 | 12.7725 |
| Wheat | +0.1925 | 7.5350 | 7.7050 |
| Cattle | +0.22 | 155.78 | 137.05 |
| Hogs | +1.78 | 85.78 | 80.35 |
| Cotton | +0.97 | 81.92 | 109.68 |
| Milk | -0.01 | 19.23 | 19.61 |
| Crude Oil | +3.30 | 74.32 | 72.38 |
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Grain and oilseed futures were mixed in a relatively quiet week, with gains in corn and wheat.
Corn had support from solid weekly export sales, along with drought that continues to plague crops in Argentina as well as dryness in far southern Brazil that is trimming crop expectations there.
Those factors are also in play for soybeans, although the export trend in soybeans has been much better this marketing year than it has been in corn.
Meanwhile despite the issues with dryness, in parts of South America, large crops are still expected in Brazil.
Wheat futures were firm, with underpinning from bargain-hunting and concern about a potential winterkill threat in parts of the Plains and Midwest, as a brutal Arctic air mass is expected to grip the region through the holidays.
Cotton futures were firm despite export sales that has all but disappeared in the last six weeks.
Cotton's performance was more impressive given a tumbling stock market and concerns about recession in the U.S.
and globally.
Investors continue to track China's abrupt and messy emergence from "zero Covid."
In the livestock complex, live cattle futures appear to have established a major top, and futures were pressured by demand concerns tied to a tumbling stock market and volatile beef prices.
Plains cash cattle markets actually held up remarkably well, with most trade steady/higher from last week, at $155 in the southern Plains and $156 in Nebraska.
The market is being supported by the harsh winter weather gripping the Plains this month.
However, negative beef packer margins hang over the market.
In the hog complex, wholesale pork values have been extremely volatile.
Futures had support from the bitter cold in the Midwest.
China is a wildcard, and Dalian hog futures have tumbled recently as consumers there stay at home to avoid Covid.
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