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August 20, 2007
In the News
The October issue of AgriMarketing magazine will feature updates on Farm Broadcasting and Market Research. For information on making agri-marketers aware of your services in these areas, please contact Judy Knoll at JudyK@AgriMarketing.com or call 636/728-1428 ext 2002
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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 ½
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3.28 ½
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2.19
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Soybeans
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-44 ½
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8.11 ½
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5.51 ½
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Wheat
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-12 ½
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6.72 ½
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3.63 ½
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Cattle
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+1.72
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91.95
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87.10
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Hogs
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-$3.52
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67.80
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65.73
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Cotton
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-3.75
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55.50
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52.80
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Weekly Comments: The big story of the week was a collapse by soybean
futures in the face of improved crop weather across the northern Midwest and uncertainty about the world
economic situation triggered by tumbling stock markets. Concerns about a
possible world credit crunch weighed on most commodity markets during the
week. Corn futures recovered from a Thursday sell off, however, on support
from strong demand. Wheat futures lost ground on speculative profit taking,
but continued to find strong support from strong export demand and tight
world supplies. Hog futures came under pressure from fund liquidation amid
increasing doubts about Chinese demand and expectations for large fall hog
supplies. The cattle market rebounded on expectations for tightening cattle
supplies. Friday’s USDA report supported the tight supply outlook by showing
a lower-than-expected Aug. 1 feedlot inventory.
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