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May 27, 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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+.08 3/4
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5.99 ¾
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3.68 ½
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Soybeans
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-.10
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13.68
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8.00 ½
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Wheat
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-.23
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7.52 ½
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4.76 ½
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Cattle
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+2.30
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96.18
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91.85
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Hogs
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+1.50
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77.85
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74.63
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Cotton
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-2.75
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69.21
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49.20
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Weekly Comments: Corn futures managed modest gains
in very choppy trading last week, finding support from strength in crude oil
prices and uncertainty about U.S. crop development. Soybean futures
price action was mixed amid continued uncertainty
about Argentine soy exports and about U.S. crop acreage. Improved planting
weather was a negative market factor. Strong energy prices supported
soybeans. Wheat futures lost further ground under pressure from the start of
the U.S. winter wheat harvest in the
southern Plains. Losses were limited by good export
demand including a new purchase of U.S. wheat by Iraq. Live cattle futures surged on
support from firm cash fundamentals and fund buying spurred by strength in
energy futures. Lean hog futures were boosted by
their discount to cash markets and by fund buying triggered by expectations
for general price inflation. Cotton futures sank under pressure from
speculative selling spurred by beneficial rains in West Texas and technical
weakness.
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