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November 12, 2007
In the News
NAMA's 2008 Agri-Marketing Conference and Trade Show will be held April 16-18 in Kansas City, MO. To reserve your organization's exhibit space, contact Judy Knoll at 636/728-1428 ext 2002; or 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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+9 ¾
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3.86 ¾
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3.50
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Soybeans
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+42 ¼
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10.43
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6.57 ½
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Wheat
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-16 ½
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7.62
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4.88
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Cattle
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+.77
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95.50
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85.88
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Hogs
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+1.47
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53.90
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59.18
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Cotton
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+.33
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64.64
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49.83
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Weekly Comments: Corn and soybean futures continued to gain ground last
week on support from inflation concerns spurred by record crude oil prices
and a weak dollar. Strong Chinese demand for soyoil
and soybeans also pushed soybean prices higher,
while anticipation of Friday's lower U.S. corn crop estimate boosted corn
futures. Wheat futures continued to fall despite inflation concerns as the
market remained worried about export cancellations amid prospects for
Argentina to reopen wheat exports this week. Cotton futures chopped sideways
with pressure from large U.S. supplies offset by prospects for a
sharp drop in plantings next spring. Live cattle futures edged higher on evidence
of tighter market-ready cattle supplies and a rebound in beef prices. Live
hog futures continued to decline most of the week under pressure from record
hog supplies before rallying sharply on Friday when technical buy stops were hit in thin trading.
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