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March 5, 2007
In the News
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Weekly Commodity
Highlights
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Courtesy of
Brock Associates
www.brockreport.com
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Nearby Futures
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Weekly Change
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Friday’s
Close
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Year
Ago
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Corn
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-19 ¾
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4.11
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2.28 ½
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Soybeans
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-39 ¼
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7.39
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5.91
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Wheat
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-24 ¾
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4.59 ½
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3.52
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Cattle
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+1.47
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97.65
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86.80
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Hogs
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-.50
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66.35
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62.00
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Cotton
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+.52
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55.85
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55.18
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Weekly Comments: Grain and soybean futures lost significant ground under
heavy pressure from liquidation of long positions by commodity funds. Price declines
appeared to be mostly technically driven as the corn and soybean markets were
clearly overbought. Concerns about China’s economy also helped trigger the
sell-off after the Shanghai stock market dropped nearly 9% on
Tuesday.
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