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January 7, 2008
In the News
The 2008 Marketing Services Guide is now online! To view it, go to www.AgriMarketingDigital.com You can now access the Guide while out of the office! This special service is sponsored by Farm Journal Media
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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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+14 ¾
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4.66 ¾
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3.62 ¼
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Soybeans
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+41 ¼
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12.49
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6.62 ¾
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Wheat
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+46 ½
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9.31 ½
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4.67 ½
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Cattle
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-1.60
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94.55
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92.23
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Hogs
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-.90
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56.40
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60.30
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Cotton
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+.80
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68.69
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54.56
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Weekly Comments: Grain and soybean futures started out the new year
strongly, supported by active commodity index fund buying. Heightened
concerns about general inflation, driven by record crude oil prices and
renewed weakness in the dollar helped spur the fund buying. Concerns about Argentina's corn and
soybean crops was
also supportive along with the battle for U.S. acreage. Front-end wheat futures
found renewed support from tight world supplies as some fresh demand surfaced
in the export market. Live cattle futures were hit
by a strong round of speculative long liquidation after running up against
chart resistance. The weakness came despite higher cash trade. Lean hog
futures continued to grind lower under pressure from large hog supplies,
which forced both cash hog and wholesale pork prices lower. Cotton futures
continued to rally on ideas that USDA will lower its estimate of China's crop
and concerns that too much U.S. cotton acreage will be lost due to high grain
and soybean prices.
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