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November 19, 2007
In the News
Happy Thanksgiving to all! And a special thanks to agri-marketers who provide the products and services that make producers successful and have made our nation the best fed, clothed and fueled in the world.
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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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-7 ¼
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3.79 ½
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3.51 ½
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Soybeans
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+21 ¾
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10.77 ¾
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6.56 ½
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Wheat
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-12 ½
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7.49 ½
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4.68 ¾
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Cattle
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-.20
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95.30
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88.13
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Hogs
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-1.37
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52.53
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62.05
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Cotton
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-3.74
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60.90
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47.88
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Weekly Comments: Soybean futures continued to surge higher last week, with a
surge in Chinese demand for U.S. soybeans boosting prices in the
face of a downturn in crude oil and precious metals futures. Corn futures
turned lower, posting modest losses under pressure from the weaker outside
markets and technical selling. Wheat futures continued to trend lower under
pressure from technical selling and a shortage of supportive demand news.
Losses were limited, though, by a frost scare in Argentina and dry weather in the U.S.
Plains. Cotton futures turned sharply lower under pressure from an easing of inflation
concerns and the larger U.S. crop and ending stocks estimates
released on Nov. 9. Live cattle futures chopped sideways as traders awaited Friday's
monthly cattle-on-feed report, which was mildly bearish for prices. Hog
futures turned lower again under continued weakness in cash hog prices and
renewed weakness.
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