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Market Analysis: Sep 30, 2005

posted on September 30, 2005

Friday's stocks report from USDA caught the trade somewhat by surprise, as both grain stocks and winter wheat production were smaller than expected. For the week, nearby wheat futures gained nearly 13 cents. The December corn contract fell less than two cents.

Soybean prices also rallied from midweek lows on smaller-than-expected stocks. For the week, November beans lost just under a penny. But the nearby meal contract was off by $4.10 a ton.

Cotton prices had another nice run before falling back slightly on Friday. For the week, the October futures contract advanced $2.35.

In Livestock, the October cattle contract was up $2.35. September feeders went off the board Thursday at record highs, while the new nearby contract gained $1.45. And the lean hog contract improved by 85 cents.

In the financials, Comex gold climbed another $5.10 an ounce. Nearby crude oil prices gained $2.05 a barrel. The Euro lost 44 basis points against the dollar. And the CRB Index jumped nearly six points to close at 334.50.

Here now to lend us his insight on these and other market trends is our senior market analyst, John Roach. Welcome back.

Market Analysis: Sep 30, 2005 Thanks John. That wraps up this edition of Market To Market. But be sure to join us again next week when we'll examine trade guesses for the big October crop report.

Until then, thanks for watching. I'm Mark Pearson. Have a great week.

Tags: agriculture commodity prices markets news USDA wheat