In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+.63

5.60 ½

3.88 ½

Soybeans

+.13 ¼

12.67 ¼

7.70 ¾

Wheat

+.01½

9.89

4.56 ½

Cattle

-3.02

87.65

96.18

Hogs

+1.78

58.10

63.40

Cotton

+.66

71.68

53.91

Weekly Comments: Corn futures rebounded strongly last week as traders anticipated a possible bullish U.S. planting intentions estimate from USDA. Soybean and wheat prices found support early in the week from speculative short covering in the wake of the previous week's steep declines, but then came under renewed pressure from commodity fund long liquidation and speculative selling. Expectations for soybean planting intentions to be up sharply from last year put fundamental pressure on the soybean market. Anticipation of a steep increase in global wheat production this year capped the wheat price rebound. Cotton futures posted a modest rebound on position evening ahead of the March 31 release of the USDA planting intentions data. Live cattle futures were pressured lower by renewed weakness in cash cattle and wholesale beef prices. Technical weakness put added pressure on prices, as the nearby April contract broke out to new life-of-contract lows. Lean hog futures rebounded moderately on indications that cash hog prices had reached a seasonal low and position evening ahead of Friday's quarterly USDA All Hogs and Pigs report.