In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

-.81 ½

6.09

3.27

Soybeans

-1.45 ½

14.70

8.51 ¼

Wheat

-.26 ¾

8.04

6.23

Cattle

-3.70

97.50

91.38

Hogs

+2.25

76.90

73.85

Cotton

-.33

70.35

64.20

Weekly Comments: The corn and soybean futures markets both plunged under a flood of commodity fund long liquidation and technical selling. Losses were triggered by continued favorable Midwest weather, sharp losses in crude oil futures and concerns about increased government regulation of commodities markets. Losses were extended as major chart support levels were pierced. Wheat futures followed the corn market lower with large new-crop wheat supplies limiting buying interest in the market. Cattle futures were pressured further by weakening cash fundamentals and fund liquidation spurred by falling corn and crude oil prices. Lean hog futures found further support from strong cash hog and wholesale pork prices and bucked the trend of fund liquidation. Cotton futures chopped around near their recent lows with pressure from outside markets offset by ideas the market is oversold.