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July 16, 2007
In the News
Advertisers: the next issue of AgriMarketing will feature a special Focus Report on the Rural Lifestyle Market! In addition, all ads 1/2 page are larger will be studied by Readex. For more information, contact Judy Knoll at 636/728-1428 ext 2002; e-mail: JudyK@AgriMarketing.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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+13 ¼
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3.54 ½
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2.60 ¼
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Soybeans
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+52 ½
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9.21 ¾
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6.00 ¼
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Wheat
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+10 ¾
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6.20 ¾
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3.95 ½
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Cattle
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-.87
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91.63
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84.60
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Hogs
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-2.30
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69.03
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70.83
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Cotton
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+3.76
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66.49
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51.15
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Weekly Comments: Soybean futures were the front running market all week,
posting sizeable gains on forecasts for hotter, drier weather across the Midwest to stress the crop. The market
sees no room for yield losses due to low U.S. planted acreage. Corn futures followed the soybean market
higher with help from growing concerns about dry conditions
in the western Corn Belt. Strong weekly export sales were
also friendly for prices. Wheat futures continued to find support from winter
wheat harvest delays in the U.S. and Europe. Export demand was also supportive
as weekly U.S. export sales came in well above
expectations. The cattle market fell back a bit as speculators took profits
in the wake of last week’s strong price run-up. Futures premium to cash
slowed buying interest. Hog futures surged on Thursday amid talk of increased
Chinese demand for U.S. pork, but it is unclear if the
gains were justified.
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