In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

-.66

6.80

3.36

Soybeans

-.27 ½

16.30 ½

8.91

Wheat

-.53 ¾

8.19

6.11

Cattle

-2.60

101.20

92.25

Hogs

+2.62

74.90

69.83

Cotton

-1.57

70.22

65.07

Weekly Comments: Corn futures came under heavy pressure from favorable growing weather and technical selling spurred when key nearby chart support was broken. Soybean futures also broke hard on Monday and Tuesday, but later recovered much of their losses on renewed concerns about extremely tight U.S. supplies. Wheat futures followed the corn market lower and remained under pressure from a large winter wheat harvest. Crude oil futures were a negative influence on grain and soybean prices early in the week, but were supportive on Thursday and Friday as they rebounded sharply to trade at new all-time highs. Live cattle futures fell to one-month lows under pressure from weaker-than-expected cash prices and commodity fund liquidation spurred by the sharp decline in corn futures. Lean hog futures posted strong gains on short covering spurred by stronger-than-expected cash hog markets and oversold futures conditions. Cotton futures wound up falling further in volatile trade on concerns high energy and food prices are hurting consumer demand for cotton.