|
|
|
|
|
|
November 26, 2007
In the News
The Nov/Dec issue of AgriMarketing Digital will be e-mailed to you this Wednesday, Nov 28. If you are not signed up to receive it, you can do so by going to www.AgriMarketing.com and access the "Renew Your Subscription" link.
|
|
|
|
|
|
|
Weekly Commodity
Highlights
|
|
Courtesy of
Brock Associates
www.brockreport.com
|
|
Nearby Futures
|
Weekly change
|
Friday's
Close
|
Year
Ago
|
|
Corn
|
+9 ½
|
3.89
|
3.69 ¼
|
|
Soybeans
|
+22 ½
|
11.00 ½
|
6.84 ¼
|
|
Wheat
|
+77 ½
|
8.26 ½
|
5.00
|
|
Cattle
|
+1.48
|
96.78
|
87.65
|
|
Hogs
|
+3.07
|
55.60
|
63.00
|
|
Cotton
|
-.83
|
60.07
|
47.59
|
|
Weekly Comments: Soybean futures steamed higher again last week with strong
Chinese demand again fueling price gains along with renewed strength in crude
oil and gold prices. Nearby soybean futures made new
34-year highs on Friday after USDA reported the highest weekly export sales
of the marketing year. Corn futures followed the soybean market higher as the
market remained concerned about 2008 acreage. Strong export demand and a weak
dollar also remained supportive factors in the corn market. Wheat futures
shot sharply higher last week on a surge of commodity fund buying. Concerns
about tight supplies in the world export market and dry conditions in the
southern Plains helped send wheat futures into technical buy stops. Cotton
prices remained under pressure from large U.S. supplies, but losses were limited by strength in other commodity markets.
Cattle futures rose on support from stronger cash cattle and wholesale beef
prices. Lean hog futures rallied sharply on technical buying and ideas cash
hog markets may have reached a seasonal low amid strong packer demand.
|
|
|
|
|
|
|
|
|
|
|
