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June 2, 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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-1/4
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5.99 ¼
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3.82 ¼
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Soybeans
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-.04 ½
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13.63 ½
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8.08 ¼
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Wheat
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+.09
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7.61½
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5.10 ¾
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Cattle
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+.35
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96.53
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90.70
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Hogs
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-.10
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77.75
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75.28
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Cotton
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-4.06
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65.15
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50.38
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Weekly Comments: Corn and soybean futures trade
remained extremely choppy last week. Corn futures ended the week nearly
unchanged after rallying sharply on Friday amid renewed concerns about U.S. corn acreage and yield potential following
heavy rains in the western Corn Belt. Soybean futures also rallied strongly to end the week
and finished with small losses after a Thursday technical sell off. The
Argentine farm strike continued to lend support to the market along with U.S. crop uncertainty. Wheat futures posted small gains on support
from oversold market conditions, good export demand and some increased
foreign crop worries. Increased U.S. winter wheat
harvest activity limited price strength. Live cattle futures remained strong on support from
higher cash cattle prices, firm beef prices and fund buying. Lean hog futures
were pressured by weakening cash fundamentals, but
found support from their discount to cash markets and from fund buying
encouraged by strength in outside markets. Cotton futures collapsed on active
technical selling amid an absence of supportive news.
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