In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures 

Weekly Change

Friday’s

Close   

Year

Ago

Corn 

+4 ¾    

3.76  

2.54

Soybeans

+20 ¼

8.12 ½

5.82 ½

Wheat

+29 ¾ 

5.01

4.15 ½

Cattle

-1.60

91.05

79.40

Hogs

-.97

74.73

66.78

Cotton

+1.38

51.14

50.94

Weekly Comments: Wheat futures were the big mover of the week, rallying sharply on concerns about excessive rainfall in the southern U.S. Plains and drought conditions in Ukraine.  Corn futures continued to chop up and down amid uncertainty about 2007 crop prospects. A strong USDA crop rating put the market into a tailspin on Tuesday, but concerns about dryness in the eastern Corn Belt kept traders nervous into Memorial Day weekend. Soybean futures continued to move higher on support from lower U.S. acreage and strong oilseed demand. Soyoil prices led soybean prices higher on support from strong palm oil markets. Cotton futures staged a rebound on technical short covering triggered by drought conditions in the Southeast.