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June 11, 2007
In the News
The Ag Media Summit will be held this year Saturday, July 28 thru Wednesday, August 1, at the Louisville, KY, downtown Marriott. To register, go to: www.agmediasummit.com
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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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-4
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3.82
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2.97 ½
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Soybeans
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+4
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8.21 ½
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6.43
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Wheat
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+7
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5.27 ¾
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4.45
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Cattle
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-1.08
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89.72
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79.87
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Hogs
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-1.18
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73.70
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72.70
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Cotton
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+.94
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51.42
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52.35
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Weekly Comments: Weather remains the primary driving force behind the
corn and soybean markets, with the focus on drying conditions in the Ohio River Valley. The corn market needs every
bushel it can get to feed ethanol expansion and the soybean market needs
every bushel it can get to offset the big drop in acreage. Corn futures are poised
to make a run at the reversal highs charted in late February. Soybean futures
set new contract highs last week. That market is now overbought. Wheat futures
are also bouncing around near contract highs. Instead of raising its winter
wheat crop estimate as expected, USDA made a small downward revision. Still, it will probably take a rally in corn
to sent wheat on another leg up..
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