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April 14, 2008
In the News
"Best of NAMA Winners" will be available at www.AgriMarketingDigital.com at 7PM this Wednesday following their presentation. Be sure to take a look...and congratulations to all!
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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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-.13 ¾
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5.84 ¼
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3.60 ¾
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Soybeans
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+.55 ½
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13.32 ½
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7.46 ½
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Wheat
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-.77 ¾
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8.96 ½
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4.31 ¼
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Cattle
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+.80
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88.70
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99.93
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Hogs
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+.42
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58.95
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64.75
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Cotton
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+3.25
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74.15
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51.82
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Weekly Comments: Soybean futures continued to rally on support from fresh
Chinese demand for U.S. soybeans and concerns about disruptions
to shipments out of Argentina and Brazil. An increase of 50 million bushels
in USDA's 2007-08 U.S. export projection also supported
prices. Corn futures were supported early in the
week by wet weather, but fell back late in the week on speculative profit
taking, even though USDA cut its corn carryout estimate by 155 million
bushels. Wheat futures came under increasing pressure from expectations for a
large U.S. and world wheat crop as the Plains
HRW wheat belt received beneficial moisture. An increase of 50 million
bushels in projected old-crop exports kept prices from falling further. Live
cattle futures posted modest gains on support from signs of seasonal strength
in cash cattle and wholesale beef prices. Lean hog futures had a choppy weak
as their premium to cash limited buying despite stronger cash hog and whole pork
prices. Cotton futures were boosted by fresh fund buying
and an unchanged USDA estimate of U.S. cotton exports.
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