|
|
|
|
|
|
September 30, 2024
In the News
Be sure to register and attend National Agri-Marketing Assn's (NAMA's) Fall Conference October 14-16 in Minneapolis, MN. For more information click here. |
| Most Read Items From Prior Issue of |  |
|
|
|
|
|
|
|
 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +0.1625 | 4.1800 | 5.0725 |
| Soybeans | +0.5375 | 10.6575 | 12.6000 |
| Wheat | +0.1150 | 5.8000 | 6.4775 |
| Cattle | +1.275 | 183.750 | 184.20 |
| Hogs | -0.175 | 82.050 | 80.200 |
| Cotton | +1.33 | 73.54 | 86.86 |
| Milk | -0.03 | 23.30 | 18.38 |
| Crude Oil | -2.82 | 68.18 | 90.79 |
|
Grain and oilseed futures were higher on the week, with soybeans leading the way as dryness in the Midwest has raised concerns about U.S. yields and dryness in Brazil is feeding uncertainty about the coming crop. Soybean futures also were boosted by a surge in soybean oil and then soybean meal prices. Corn was supported by the strength in the soy complex and short-covering, while wheat continues to have some underlying support from dryness in the Black Sea region. Cotton futures rose on potential crop damage in south Georgia from Hurricane Helene, which dumped several inches of rain on key cotton-growing areas. Cotton's upside however continues to be limited by poor demand. Crude oil fell amid soft demand and news that Saudi Arabia might be abandoning a $100 price target in favor or pursuing more market share. Commodity traders and investors continue to watch the situation in the Middle East, which is on the brink of turning into a broader war, and on the U.S. presidential election, which appears set to go down to the wire.
In the livestock complex, live cattle futures continued to climb in the wake of a neutral monthly Cattle-on-Feed report, with support from their discounts to strong Plains cash markets and technical strength. Gains were capped by further seasonal weakness in wholesale beef prices, negative packer operating margins and a slowdown in U.S. beef export sales. Feeder cattle futures followed live cattle higher despite pressure from stronger corn prices. Lean hog futures continued to edge higher through midweek on support from firmer-than-expected cash hog prices before setting back on Thursday amid position evening ahead of USDA's quarterly Hogs and Pigs report. That report held no big surprises for the hog market but appeared negative for front-end futures and supportive for the April 2025 and more deferred contracts.
Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
