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April 2, 2007
In the News
We look forward to seeing our friends and making new ones at the NAMA convention next week in Dallas. Be sure to stop by and say hi...we are in booths #110 & 112!
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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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-28 ¾
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3.74 ½
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2.27 ¾
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Soybeans
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-8 ¼
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7.61 ¼
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5.71 ½
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Wheat
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-23 ½
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4.38
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3.47 ¾
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Cattle
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-.50
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97.60
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79.50
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Hogs
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+.27
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63.85
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57.35
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Cotton
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+.30
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53.57
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52.65
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Weekly Comments: Grain futures finished the week sharply lower following a
strong negative reaction to Friday’s long-awaited USDA Planting Intentions
Report, which indicated U.S. farmers intend to plant nearly
90.5 million acres of corn this spring. That would be the highest corn
acreage since 1944. Corn futures locked limit down on Friday, dragging
soybeans and wheat lower as well. Soybean futures lost ground despite a
larger-than-expected drop in planting intentions, which USDA put at 67.1
million acres—the lowest since 1996. Cotton futures continued to struggle
even though planting intentions came in 20.5% below last year’s acres. There
were indications of renewed strength in both lean hog and live cattle futures
late in the week. Friday afternoon’s hog inventory report was slightly
friendly for prices.
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