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May 19, 2008
In the News
Time to register for the Ag Media Summit to be held in Tampa Florida, July 26-30! Exciting gathering of the ag communications community. For more information, go to www.agmediasummit.com
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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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-.38 1/4
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5.91
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3.76
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Soybeans
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+.28 ½
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13.78
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7.92 ¾
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Wheat
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-.16
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7.75 ½
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4.96 ¾
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Cattle
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-.65
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93.88
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92.95
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Hogs
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-.53
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76.35
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75.60
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Cotton
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+.41
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71.96
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49.19
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Weekly Comments: Corn futures came under pressure
much of last week from improved U.S. planting weather amid a lack of
supportive demand news. Soybean futures gained further ground on support from
a continued farm strike in Argentina and ideas improved corn planting conditions
would mean lower U.S. soybean plantings. Wheat futures
continued to be pressured by expectations for large U.S. and world 2008 production. Wheat losses
were limited by short covering spurred by oversold
market conditions and good export sales for 2008-09. Cattle futures retreated
a bit under pressure from ideas the cash market was near a seasonal high and
position evening ahead of Friday's USDA Cattle-on-Feed report. That report
held mixed news as both April marketings and feedlot placements were stronger
than expected. Lean hog futures slipped a bit in choppy trade amid ideas cash
prices were topping out seasonally. Losses were limited
by futures discount to cash and continued strong export demand. Cotton futures
held firm in choppy trade with pressure from large U.S. stocks offset by low
plantings amid a lack of significant fundamental news.
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