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October 15, 2007
In the News
AgriMarketing has gone digital! To view the October issue, go to: AgriMarketingDigital.comOur thanks to Farm Journal Media for making this free service available to you. |
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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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+8 ¾
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3.51
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2.98 ¼
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Soybeans
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+36 ¼
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9.76 ¾
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5.79 ¾
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Wheat
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-32 ½
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8.57 ½
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5.15 ½
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Cattle
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+.77
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94.45
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88.75
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Hogs
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-2.02
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58.28
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61.00
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Cotton
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+.65
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63.87
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48.93
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Weekly Comments: Soybean futures rebounded strongly ahead of Friday's USDA
reports on speculation that production would be cut. Gains were
trimmed by profit taking on long positions following confirmation from
USDA of a slightly smaller crop. Wheat futures fell under pressure from fund
liquidation amid ideas of slowing U.S. export sales and larger winter
wheat plantings. Corn futures spent the week chopping around in anticipation
of lower crop and ending stocks estimates then rallied on Friday when USDA didn't raise production as much as expected. Cotton
futures found support from pre-USDA report positioning and expectations for
lower 2008 plantings. Big weekly export sales also provided a boost for
prices. Live cattle futures spent most of the week consolidating as traders
watched for fresh signs of cash price direction. Lean hog futures remained
under pressure from fears that record hog supplies will continue to grow
seasonally into late fall.
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