Iowa Public Television


Market Plus: Apr 30, 2010

posted on April 30, 2010

Market Plus: Apr 30, 2010 Due to extended coverage of President Obama's White House to Main Street Tour, the April 30 program does not include commodity market analysis. Market to Market will return to its regular format next week.

Grain prices were mixed this week as a strong dollar pressured wheat while increased purchases by China were friendly to corn.

For the week, May wheat lost more than a penny, and the nearby corn contract nearly 15 cents higher.

With more than half of the South American soybean crop harvested, talk of record production south of the equator squashed the rally in Chicago. For the week, the May soybean contract lost 11 cents, while the nearby meal contract was down $1.

In the softs, cotton trended higher again this week as the December contract posted a gain of 58 cents.

In the dairy market, June Class III Milk futures lost 34 cents, while the deferred contract was down 29 cents.

In livestock, June cattle lost 32 cents. Nearby feeders were up more than 25 cents. And the June lean hog contract advanced by nearly $1.50.

In other markets of interest, the Euro lost 80 basis points against the dollar. Crude oil was up more than $1 per barrel. Comex Gold advanced $27 per ounce. And the Goldman Sachs Commodity Index moved more than two points lower to close at 548.25.

Tags: agriculture commodity prices markets news