In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures 

Weekly Change

Friday’s

Close   

Year

Ago

Corn 

-18 ¾

3.99 ½

2.24 ½

Soybeans

-6 ¼

7.53 ½

5.76 ¼

Wheat

-15 ½

4.60 ¾

3.52 ¾

Cattle

-4.35

97.10

83.42

Hogs

-3.55

64.40

58.42

Cotton

-.56

53.91

54.49

Weekly Comments: It was a negative week for all farm commodities. Profit taking on long futures positions—primarily the funds—pulled prices lower and tested some important daily chart support. Positioning ahead of the March 30^th release of USDA’s Prospective Plantings Report will continue to be a factor in the corn and soybean markets. Corn acreage will be up sharply (perhaps 10 million acres) and soybean plantings will be down significantly from last year, but there are major differences of opinion on how much. Ultimately, weather during the upcoming growing season will be more important that acreage to the long-term price picture, but planting intentions is on the collective mind of the market right now.