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February 18, 2008
In the News
The next issue of AgriMarketing will include the Best of NAMA winners! And...a Focus Report on advanced degrees for agri-marketers. For more information, contact Judy Knoll at JudyK@AgriMarketing.com or call her at 636/728-1428 ext 2002.
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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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+6 ¾
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5.14 ¾
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4.07 ½
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Soybeans
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+34 ¾
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13.73 ¾
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7.58 ¾
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Wheat
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-65 ½
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10.27 ½
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4.53 ¼
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Cattle
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-.80
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91.40
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94.18
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Hogs
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-.66
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64.20
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68.70
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Cotton
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-.27
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68.82
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53.65
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Weekly Comments: A move by the U.S. commodities exchanges to expand
daily price limits and margin requirements for wheat futures sent most wheat
contracts sharply lower early in the week. However, prices regained some of
the lost ground on Thursday and Friday as fresh export
demand appeared and Minneapolis March spring wheat futures continued
to rise. Soybean futures extended gains with the nearby March contract posting
a new all-time high on speculation China would have to import more soybeans
and soyoil due to high food price inflation and
damage to its rapeseed crop. Corn futures followed the soybean market higher
as the corn market tried to protect 2008 acreage amid signs of continued
strong demand. Live cattle futures
posted modest losses under pressure from weaker cash cattle and wholesale
beef prices. Lean hog futures slipped a bit as their premium to cash
encouraged hedge selling and further speculative long liquidation. Cotton
futures ended slightly lower after a highly volatile week of trade. As expectations for a drop in acreage offset early week pressure
from technical weakness.
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