In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures 

Weekly change

Friday’s

Close   

Year

Ago

Corn 

+13

3.41 ½

2.27 ½

Soybeans

+37 ½

8.49

5.51 ½

Wheat

+53 ¾

7.25 ¾

3.75 ½

Cattle

+2.43

94.38

88.13

Hogs

+2.85

70.65

66.43

Cotton

+.70

56.20

53.10

Weekly Comments: Wheat futures made yet another surge to new highs again last week as fresh demand from Egypt and a smaller-than-expected Canadian crop spurred fresh speculative buying. Soybean futures, meanwhile gained back a large chunk of the ground they lost the previous week as excessive rains in the northern Midwest and continued hot, dry weather in the southern Midwest spurred increased doubts about the U.S. crop size. Corn futures were boosted by the strength in wheat and soybean futures as well as by continued indications of strong export demand. All of the grain and livestock markets benefited from reduced concerns about the world economy and a stronger tone in world stock markets. Cattle futures continued to find good support from indications of tightening fed cattle supplies. Hog futures’ gains came mostly on Friday as news Smithfield foods had sold 60 million pounds of U.S. pork to China sent the market into commodity fund buy stops.