In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+7 ¾

5.08

3.99 ¾

Soybeans

+51 ¾

12.87 ¼

7.43 ¾

Wheat

+1.50

10.93

4.57

Cattle

+1.97

92.20

93.35

Hogs

-1.80

58.08

65.18

Cotton

+.93

69.09

52.41

Weekly Comments: Wheat futures were the center of attention in the commodities world last week as the Minneapolis spring wheat market extended a string of limit-up gains in response to continued export demand in the face of extremely tight supplies of high protein wheat. Chicago and K.C. futures were pulled higher as well as short position holders were trapped in the market. The futures exchanges responded late Friday by doubling the daily price limits on wheat futures. Corn and soybean futures trade turned highly volatile and failed to hold big gains on two separate days. Ideas index fund buying has pushed prices too high and growing anticipation of the South American harvest helped slow prices. Live cattle futures rallied on support from stronger wholesale beef prices and stronger Plains cash cattle trade. Lean hog futures fell back as speculative profit taking and hedge selling set in following the huge gains posted the previous week. Cotton futures edged higher in choppy trade on support from wheat and soybean price gains as the market continued to anticipate lower U.S. cotton acres.