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November 5, 2007
In the News
Ad reservations for AgriMarketing's annual Services Guide close this Friday. To reserve your organization's space, contact Judy Knoll at Ph: 636/728-1248 ext 2002; e-mail: JudyK@AgriMarketing.com
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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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+5
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3.77
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3.44 ¾
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Soybeans
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+6 ¼
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10.01 ¾
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6.48 ¼
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Wheat
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-21 ½
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7.78 ½
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4.91 ½
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Cattle
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-.40
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94.73
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85.90
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Hogs
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-2.10
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52.43
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64.60
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Cotton
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-.32
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64.31
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49.18
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Weekly Comments: The action in corn and soybean futures
turned extremely choppy last week, but both markets held firm as they continued
to find direction from the crude oil market. Ideas of rising biofuel demand,
concerns about general inflation and the battle for 2008 crop acreage
continued to support prices. Slow cash corn and soybean movement was also
supportive. Wheat futures slid further despite strength in outside markets as
the lowest weekly export sales total of the marketing year created concerns
about demand. Cotton futures chopped sideways, finding support from outside
markets amid a lack of fundamental news. Cattle futures remained on the
defensive due falling beef prices and concerns about large pork and poultry
supplies. Lean hog futures remained in their downtrend as record hog runs continued
to overwhelm the market even with packers operating near full capacity on
weekdays and maintaining large Saturday kills.
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