In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+.50 ½

6.50 ¾

3.74 ¾

Soybeans

+.94

14.57 ½

8.22 ¼

Wheat

+.49 ½

8.11

5.19 ¾

Cattle

-2.65

93.85

90.00

Hogs

-2.62

75.13

73.35

Cotton

+1.37

66.52

51.55

Weekly Comments: Corn futures blasted off to new all-time highs as extremely wet Corn Belt weather heightened concerns about this year's crop and crude oil futures roared back from early week losses to move to new highs. Soybean futures posted huge gains as well as weather concerns, the continuation of Argentina's farm strike and tight old-crop supplies spurring new buying. Wheat futures found good support from strong corn prices and a weak dollar and shook off continued winter harvest pressure. Live cattle futures set back as cash market weakness spurred speculative profit taking. Inflation-related fund buying limited losses in deferred cattle contracts. Lean hog futures were pressure by lower cash hog and wholesale pork prices, although deferred contracts found support from inflation concerns and expectations for herd liquidation due to soaring corn prices. Cotton futures rebounded on technical short covering spurred by oversold conditions and fund buying driven by strong outside markets..