Iowa Public Television

 

Market Analysis: Apr 16, 2010

posted on April 16, 2010


Grain prices rallied this week despite the fact that planting conditions in much of the Grain Belt are the best in years.

For the week, May wheat gained nearly 25 cents, and the nearby corn contract moved almost 18 cents higher.

The rally was, underpinned, largely by strong soybean export numbers. For the week, May soybeans gained 33 cents, while the nearby meal contract was up more than $15 per ton.

In the softs, cotton trended higher again this week as the December contract posted a gain of 68 cents.

In the dairy market, April Class III Milk futures rose a nickel, while the deferred contract gave up last week's gains -- and then some -- with a loss of nearly 70 cents.

In livestock, June cattle lost a dime. Nearby feeders were down nearly $2.75. And the June lean hog contract was up $2.70.

In other markets of interest, the Euro gained 42 basis points against the dollar. Crude oil was down $1.68 per barrel. Comex Gold declined $25 per ounce. And the Goldman Sachs Commodity Index moved five points higher to close at 544-even.

Here now to lend us his insight on these and other trends is one of our regular market analysts, Tomm Pfitzenmaier. Tomm, welcome back.

Market Analysis: Apr 16, 2010 Tomm Pfitzenmaier, thank you so much. That wraps up this edition of Market to Market. But if you'd like more information from Tomm on where these markets just may be headed, visit the "Market Plus" page at our web site. You'll find "Expanded Market Analysis," audio podcasts and streaming video of our program -- all FREE -- at the Market to Market Web site.

And be sure to join us again next week when we'll examine the merits of production agriculture with Michael Pollan, author of The Omnivore's Dilemma and Blake Hurst who wrote The Omnivore's Delusion. Until then, thanks for watching. I'm Mark Pearson. Have a great week.

Tags: agriculture commodity prices markets news