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July 28, 2008
In the News
The September issue will feature Focus Reports on the Rural Lifestyle market and Fruit & Vegetable producers. Ads will be studied by Readex. For more information, contact Judy Knoll at 636/728-1428 ext 2002; JudyK@AgriMarketing.com
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Weekly Commodity
Highlights
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Courtesy of
Brock Associates
www.brockreport.com
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Nearby Futures
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Weekly change
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Friday's
Close
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Year
Ago
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Corn
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-.31 ¾
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5.77 ¼
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3.11 ½
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Soybeans
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-.71 ¼
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13.98 ¾
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8.15
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Wheat
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+.07
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8.11
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6.34
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Cattle
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+.33
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97.83
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92.08
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Hogs
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+1.70
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78.60
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74.10
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Cotton
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+1.33
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71.68
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61.97
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Weekly Comments: Corn and soybean futures came under further pressure from
favorable Midwest growing weather and index fund
liquidation spurred by falling crude oil prices before stabilizing on support
from speculative profit taking spurred by overbought conditions. Wheat
futures struggled most of the week under continued pressure from corn price
weakness, before bouncing strongly on Friday. Reports of a large Iranian
wheat purchase helped send wheat prices into technical buy stops. Live cattle
futures firmed slightly on speculative profit taking ahead of Friday's
Cattle-on-Feed Report, but the report was slightly
negative for prices. Lean hog futures found further support from strong pork
demand, which pushed cash hog and pork prices higher in the face of large
supplies. Cotton futures rebounded on speculative buying triggered by weather
concerns including the destruction of some acreage in South Texas by Hurricane Dotty.
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