Wheat Futures Gain on Relentless Rains in the EU
Blog Post Top

U.S. live-cattle futures got a boost Friday from short-covering after a sharp slide across the livestock markets this week. A jump in prices processors paid for supplies in the cash markets over the course of the week also supported futures. August live-cattle gained 60 to $150, October live-cattle rose 40 to $147, and August feeder-cattle climbed 210 to $217.

Hog futures, meanwhile, ended mixed, facing some pressure from a steady decline in cash prices as supplies have grown. October hog futures slid 30 to 94.95, December hogs gained 130 cents to 89.05.

Wheat rose to the highest in more than a week as continuing rain in parts of Europe will further delay the harvest, reduce crop quality and possibly drive buyers to the U.S., and on concern that tensions are flaring up between Ukraine and Russia.

September Chicago wheat rose 14 to $5.51, September KC wheat gained 11 ¾ to $6.19, September corn rose 3 3/4 to $3.65, and September soybeans rose 4 1/4 to $11.02

Cotton futures continued to slide on Friday with the largest crop in years expected from the southern US as well as poor export sales creating what is perceived among traders as a global glut of the fiber.  October cotton slipped 29 to 63.60, and December new crop fell 32 to 64.65.

Gold prices fell to the lowest level in nearly two weeks on Friday as signs of health in the U.S. economy outweighed news of a skirmish near the Ukraine-Russia border.  December Gold fell $9.50 to $1,306.20, and September silver closed at $19.52, down 38.1 cents.

Crude oil futures rose on Friday, after Ukraine said its artillery destroyed a large part of a column of armored vehicles seen entering Ukraine from Russia. September crude gained $1.77 to $97.35 a barrel, September gasoline gained 3.2 cents to $2.69, and September diesel rose 2.85 cents to $2.84

Natural-gas futures fell more than 3% on Friday after weather forecasts turned cool through the end of August, capping a season of tepid summer temperatures that have tempered demand for the fuel. September nat gas fell 13 cents to $3.77.

On Wall Street the S&P 500 finished nearly flat on Friday after a morning slide as concerns about Ukraine were offset by late-day buying. The three major U.S stock indexes ended higher for the week.  The Dow fell 50 to end the week at 16,662, the Nasdaq closed at 4,464, up 11 and the S&P 500 closed virtually unchanged at 1,955.

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 - 2
Blog Post Right - 2_crawford

Upcoming Events

all-day 2015 Annual SCFB Young Farmer and Rancher FARM Life Conference @ Double Tree Hotel in downtown Charleston
2015 Annual SCFB Young Farmer an… @ Double Tree Hotel in downtown Charleston
Jan 30 – Jan 31 all-day
Keynote presenters will include agricultural activist Trent Loos. Trent has long believed in the true value of our food supply as a means of national [...]
9:00 am Managing Crop Strategies and Farm Profitability in 2015 @ Marriott Crab Tree Raleigh
Managing Crop Strategies and Far… @ Marriott Crab Tree Raleigh
Feb 4 @ 9:00 am – 1:30 pm
Feb 4, 2015 MB GRAIN Farmer Meeting Agenda Managing Crop Strategies and Farm Profitability in 2015 MARKETING 900 – 1015          Terry Coffey, Chief Technology Officer, Murphy [...]
12:30 pm 2015 Martin County Cotton Meeting @ Martin County Farmers Market
2015 Martin County Cotton Meeting @ Martin County Farmers Market
Feb 4 @ 12:30 pm
There will be a meal included.  There will be Cotton Specialists providing information on cotton production.  There will be 2 hrs. of N, O, D, [...]
9:30 am @ North Carolina State Fair Grounds
@ North Carolina State Fair Grounds
Feb 5 @ 9:30 am – 12:30 pm
The potential for North Carolina’s two largest industries – agriculture and the military – to work together will be highlighted at the 10th annual Ag [...]
6:00 pm 2015 Pitt County Peanut Production Meeting @ Pitt County Agriculture Center
2015 Pitt County Peanut Producti… @ Pitt County Agriculture Center
Feb 5 @ 6:00 pm
A sponsored meal will be served.  The meeting will consist of specialist from the University given updates in Peanut Production along with Bob Sutter with [...]

View Calendar