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January 2, 2008
In the News
Happy New Year! The March issue of AgriMarketing will feature a special supplement celebrating CropLife America on its 75th anniversary. The supplement will also be distributed to Congressional and federal agency policy leaders. To have your organization's message included, contact Judy Knoll at JudyK@AgriMarketing.com or call 636/728-1428 ext 2002.
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Do you have employees new to the industry?
Sign them up for
NAMA Boot Camp, August 6-8 in Kansas City. Details and registration information
here.
NAMA Nexus coming in October
Mark your calendar for
NAMA Nexus (formerly Fall Conference) October 14-16 at the fabulous
Pfister Hotel in Milwaukee. |
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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 ½
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4.52
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3.88 ½
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Soybeans
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+30 1/4
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12.07 ¾
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6.75 ¾
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Wheat
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-64
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8.85
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5.04 ¼
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Cattle
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+1.45
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93.55
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89.68
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Hogs
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-2.43
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57.30
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62.05
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Cotton
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+1.72
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67.89
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56.96
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Weekly Comments: Since this update covers the final week
of trading for 2007, we feel a quick review of last year is appropriate. For
most of the commodities we track, with the notable exception of hogs, 2007
was a banner year. That was especially true for the soybeans as nearby
soybean futures ended 2007 more than 78% higher than a year earlier. The
soybean move, which was fueled primarily by the sharp drop in U.S. plantings, record demand and
soaring crude oil prices came in the face of record U.S. ending stocks at the end of
2006-07. Wheat was another star of 2007 as tight supplies following a second
straight year of crop problems in key growing areas around
the globe drove wheat futures above $10 per bu.
for the first time ever. Despite ending the year with a sell-off, nearby
wheat futures were up more than 75% for 2007. Nearby corn
futures rose more than 16% for the year despite a record U.S. crop following the largest
plantings since WW II. Strong demand from the growing ethanol industry
combine with a surge in export demand and the battle for acreage fueled the
corn gains. Nearby live cattle futures gained 7.3%
for 2007 on support from tighter supplies and firm beef demand. Nearby lean hog futures finished the year 6.7% lower under pressure
from record supplies. Strong pork exports prevented greater losses. Nearby cotton futures finished 2007 more than 19% higher than a
year earlier as high grain prices fueled expectations for lower U.S. cotton plantings.
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