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September 4, 2007
In the News
Forms to update the annual AgriMarketing Services Guide--the "Yellow Pages" of the ag industry--were e-mailed last week. Please update your organization's information and send to us at your earliest convenience. To reserve ad space, contact Judy Knoll at: JudyK@AgriMarketing.com; ph: 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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-17 ½
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3.24
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2.32
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Soybeans
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+19
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8.68
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5.42 ¼
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Wheat
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+41 ¼
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7.67
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4.04
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Cattle
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-.93
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96.90
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93.13
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Hogs
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-3.82
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66.83
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66.90
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Cotton
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+2.67
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58.87
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53.05
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Weekly Comments: Wheat futures remained the big story in the agricultural
commodities markets as they continued to climb to never-before-seen heights
fueled by strong export demand and concerns about southern hemisphere
production. Chicago Dec. wheat futures pushed above
$8.00 on Friday before dropping back on month-end and pre-holiday position
evening. Soybean futures rose further as hot, dry weather across the southern
Midwest continued to spur fears U.S. production will fall short of
expectations. Corn futures turned lower, however, under pressure from rising
harvest pressure and potential for a larger crop. The cotton market surged
late in the week on strong weekly export sales and technical short covering.
Live cattle futures slipped a bit as speculators took some profits on long
positions, but losses were limited by strong cash
fundamentals. Lean hog futures came under pressure from weakening cash hog
and wholesale pork prices. Fears of large fall hog supplies remained a
negative market factor.
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