In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures 

Weekly change

Friday’s

Close   

Year

Ago

Corn 

+7 ¼

3.31

2.31 ¾

Soybeans

+23

8.91

5.37

Wheat

+73

8.40

4.00

Cattle

-.80

96.10

92.30

Hogs

-.53

66.30

66.55

Cotton

-.97

57.90

50.63

Weekly Comments: The historic wheat bull market continued to roll along with only temporary interruptions, although futures trade turned even more volatile. End users continued to scramble cover needs the world market with further reports of crop damage in Australia fueling concerns that already-tight supplies will grow even tighter. Soybean futures continued to find support from uncertainty about U.S. production and concerns that 2008 acreage will be lost to high-priced wheat. Corn futures turned higher of Friday on fund buying after feeling pressure much of the week from increasing harvest activity and reports of good early yields.  Live cattle futures came under pressure from speculative profit taking after testing key chart resistance and failing to break through. Concerns about weak packer operating margins also weighed on prices. Lean hog futures felt further pressure from weakening cash hog and wholesale pork prices. Expectations for large fall hog supplies remained a problem.