Over 350 agri-marketers participated in last week's "Flood of '08" webinar. It will be posted for viewing/listening tomorrow (Tuesday) at www.AgriMarketing.com
Weekly Comments: Corn futures had a volatile week suffering big losses
early in the week on bearish USDA acreage and corn stocks data and then
regaining ground on fund buying spurred by forecasts for hotter weather and sharp
gains in crude oil futures. Soybean futures posted further sharp gains on
support from tight old-crop supplies and a decrease in expected harvested
acreage for 2008. Wheat futures were pressured by larger-than-expected June 1
U.S. stocks and strong harvest activity.
Cattle futures fell on speculative profit taking spurred by futures' premium
to cash. Lean hog futures came under pressure from bearish USDA inventory
data showing larger-than-expected June 1 hog supplies and limited liquidation
of the breeding herd. Cotton futures fell under pressure from commodity fund
liquidation after USDA spurred by technical weakness amid a lack of fresh
bullish fundamental news.
