In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

-.22 ¼

5.77 ¼

3.71 ¼

Soybeans

-.35 ¾

13.25 ¾

7.21 ½

Wheat

-.69 ½

8.00 ½

5.06 ¼

Cattle

+2.73

92.28

96.95

Hogs

+2.00

76.35

74.73

Cotton

-2.42

68.46

48.90

Weekly Comments: Corn futures fell back under pressure from speculative liquidation of long positions spurred by overbought conditions and improved planting conditions in the eastern half of the Corn Belt. Soybean futures were pressured by speculative profit taking amid a lack of supportive demand news and ongoing concerns about switching of corn acreage into soybeans. Wheat futures came under increasing pressure from expectations for a large U.S. and world winter wheat crop. Higher-than-expected Canadian wheat planting intentions were a negative factor. Live cattle futures had a strong week on support from further seasonal strength in cash cattle and wholesale beef prices, with the choice beef cutout value hitting an 11-month high on Thursday. Lean hog futures also continued to find support from strong cash hog and wholesale pork prices. News Canada's hog herd was down 11.8% from a year ago was also supportive. Cotton futures felt further pressure from speculative long liquidation spurred by large deliverable cotton stocks and disappointing demand for U.S. cotton.