In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+.33 ½

7.54 ¾

3.43 ¾

Soybeans

+.49

15.81 ½

8.03 ½

Wheat

+.29

8.95 ½

6.06

Cattle

+5.40

100.98

85.30

Hogs

-3.98

73.20

72.33

Cotton

+1.74

73.41

56.72

Weekly Comments: Corn futures came surging back from early week losses to trade at new all-time highs on Friday as heavy rains in parts of the Midwest spurred more concern about flooding and yield potential. Fund buying tied to strong gains in crude oil prices and a weak dollar also gave the corn market a strong push higher. Soybean futures also saw a strong boost from fresh Midwest rains and fund buying triggered by increasing expectations for general inflation. Gains were limited by the resumption of exports from Argentina. Wheat futures rallied on support from corn price strength, fund buying and winter wheat harvest delays, but gave back a good portion of their gains on Friday as harvest pressure increased. Nearby live cattle futures surged sharply on strong cash cattle and beef prices, while deferred contracts found further support from indications high feed costs are causing supplies of cattle on feed to shrink. Lean hog futures were pressured by renewed cash market weakness and position evening ahead of Friday afternoon's Quarterly Hogs and Pigs Report. That report was bearish news for the market as it showed a larger-than-expected hog herd and little breeding herd liquidation. Cotton futures pushed higher on fund buying spurred by rising grain prices, strong crude oil prices and a weak dollar.