Wheat Futures Begin Recovery Going into Holiday Weekend
Blog Post Top

U.S. cattle futures surged to new highs Thursday on a rally to fresh peaks in the cash and wholesale beef markets, which has fueled sentiment that demand for record-expensive burgers, steaks, and other products remains steady while the pool of available animals remains smaller than expected.

August live-cattle climbed 267 to $155, the October contract gained 122 to $156.

Hog futures, too, advanced lifted by a steady climb in cash market prices. July hogs rose 92 to $131, most-active hogs for August picked up 125 to $131.

Corn futures settled lower for a fourth straight session, pressured by expectations the U.S. will produce another bumper crop this autumn.

Soybean futures dropped for the fifth straight session, weighed down by the USDA’s estimate Monday that farmers would plant more acres with the oilseeds this year than analysts had expected, while wheat advanced for the second straight session after sliding earlier this week to a nearly five-month intraday low.

July Corn slipped 1 1/2 to $4.17, July soybeans declined 4 3/4 to $13.87, July Chicago wheat added 6 1/4 to $5.68, July KC wheat jumped 14 to $6.97.

Cotton is back in fashion among U.S. farmers this season, a trend that has pushed prices to the lowest level in more than 19 months. December new crop Cotton fell 41 to 72.06, nearby October cotton fell 47 to 71.79.

Gold ended lower Thursday, after better-than-expected jobs data showed the U.S. recovery may be gaining traction, prompting traders to take profits on the precious metal’s recent gains. August gold fell $10.30 to $1,320.60, September silver closed at $21.13, down 16.5 cents.

Oil futures slipped Thursday posting their longest losing streak in two years, on expectations that halted Libyan exports could resume, increasing global oil supplies.  August crude fell 42 cents to $104.06 a barrel, August gasoline gained a fraction to $3.01 a gallon, and August diesel fell 1.77 cents to $2.92.

Natural-gas prices rose Thursday as buyers rushed back into the market to close out positions ahead of the holiday weekend.  August nat gas gained 4.9 cents to $4.40

Wall Street’s holiday-shortened session ended with multiple records on Thursday, with the Dow topping 17,000 for the first time after the June jobs report came in much stronger than expected.  The Dow gained 92 to close at 17,068, the Nasdaq closed at 4,485, up 28, and the S&P 500 gained 10 to finish the short week at 1,985.

A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Blog Post Right-1
Blog Post Right - 1

Blog Post Right - 2
Blog Post Right - 2_crawford

Upcoming Events

Sep
17
Wed
9:00 am Grain Sorghum/Milo Tail Gate Field Day @ Dewitt Farms Test Plots
Grain Sorghum/Milo Tail Gate F… @ Dewitt Farms Test Plots
Sep 17 @ 9:00 am – 11:00 am
Grain Sorghum/Milo Tail Gate Field Day Wednesday, September 17, 2014 9:00 a.m. – 11:00 a.m. Dewitt Farms Test Plots Across from 1916 Hollybush Road, Timmonsville, [...]
Sep
19
Fri
9:15 pm business course for livestock and horse producers
business course for livestock an…
Sep 19 @ 9:15 pm – 10:15 pm
The one-day workshop will teach livestock owners the ins-and-outs of handling legal, accounting, lending and insurance needs in joint sessions with Extension and industry representatives. [...]
Sep
22
Mon
all-day 2014 SCFB Women’s Leadership Conference @ Holiday Inn, Beaufort, SC
2014 SCFB Women’s Leadership Con… @ Holiday Inn, Beaufort, SC
Sep 22 – Sep 23 all-day
Voted the Happiest Seaside Town by Coastal Living magazine in 2013, Beaufort, SC is the location of the 2014 Women’s Leadership Conference. Highlights include: •Tour [...]
Sep
30
Tue
8:00 am Private Pesticide Applicator Recertification Training- Washington @ Beaufort County Extension Office, Washington
Private Pesticide Applicator Rec… @ Beaufort County Extension Office, Washington
Sep 30 @ 8:00 am – 10:00 am
Private Pesticide Applicator “V” Training (2 hrs V credits)
Oct
1
Wed
all-day 2014 Making Energy Work Annual Conference @ Charlotte Convention Center
2014 Making Energy Work Annual C… @ Charlotte Convention Center
Oct 1 – Oct 2 all-day
NC Sustainable Energy Association’s 6th Annual Making Energy Work Conference will be held on October 1-2, 2014 at the Charlotte Convention Center. Making Energy Work:  Securing [...]

View Calendar