In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

-.12 ¼

5.65

3.19

Soybeans

-.41

13.57 ¾

8.25 ¾

Wheat

-.17

7.94

6.36

Cattle

+2.20

100.03

93.43

Hogs

+2.98

81.58

72.33

Cotton

-2.37

69.31

62.15

Weekly Comments: Corn and soybean futures found support early in the week from speculative profit taking and hotter weather forecasts. However, both markets came under renewed pressure when it became apparent the heat wave would be short lived. Fresh fund liquidation spurred by renewed weakness in crude oil futures also contributed to a late week price collapse. Wheat futures slid under pressure from weak corn prices and large world wheat supplies with strong export demand limiting the losses. Live cattle futures rallied on indications a seasonal low had been reached in the cash market amid tightening fed cattle supplies. Oversold conditions also spurred speculative short covering. Nearby lean hog futures pushed higher again on strong cash fundamentals including record-high wholesale pork prices, while deferred hog contracts were pressured by grain and energy price weakness. Cotton futures were pressured by renewed fund long liquidation amid a lack of supportive fundamental news.