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August 5, 2024
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.08 | 3.86 1/2 | 4.84 1/4 |
| Soybeans | -.48 1/4 | 10.29 1/4 | 14.44 |
| Wheat | +.15 1/2 | 5.39 | 6.33 |
| Cattle | -4.48 | 184.10 | 180.90 |
| Hogs | -1.28 | 92.20 | 101.03 |
| Cotton | +.26 | 68.25 | 85.27 |
| Milk | -.06 | 20.30 | 17.20 |
| Crude Oil | -3.64 | 73.52 | 82.82 |
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Corn futures fell under pressure from high expectations for 2024 U.S. production supported by a higher-than-expected weekly crop rating from USDA. Soybean futures also declined under pressure from high crop expectations as a lower soybean crop rating was overshadowed by favorable Midwest weather forecasts. Wheat futures were boosted by technically-driven short covering and concerns about the European Union crop. A weaker dollar was supportive for grain, soybean and cotton futures in general, boosting U.S. export competitiveness. Live cattle futures were slammed on Thursday and Friday by demand worries amid increasing fears of a U.S. economic recession spurred by weak employment data and sharp declines in U.S. stock indexes. Lean hog futures also felt pressure from economic concerns, but futures weakness was limited by firming cash hog prices.
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