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August 18, 2008
In the News
Be sure to enter the inaugural Word Of Mouth Marketing (WOMM) award competition. For details, access the link on the Right hand side of this newsletter. The October issue of AgriMarketing will feature focus reports on Ag/Rural Broadcasting and Marketing Research. For more info, contact Judy Knoll at 636/728-1428 ext 2002; e-mail: 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 ¼
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5.29 ¾
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3.28
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Soybeans
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+.34 ½
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12.11 ½
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8.39
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Wheat
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+.59
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8.24 ¼
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6.78 ½
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Cattle
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+.20
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101.68
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92.13
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Hogs
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-2.35
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75.55
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68.58
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Cotton
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-2.18
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65.07
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58.11
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Weekly Comments: Most commodity markets, including
grain futures, came under heavy pressure on Friday from a new wave of fund
selling triggered by a stronger dollar and crude oil price losses. However,
for the week, grains were stronger. Corn futures found support from technical
buying after posting a bullish reversal on Tuesday despite a
larger-than-expected crop estimate from USDA. The market's reaction spurred
sentiment that a major seasonal low had been charted.
Soybean futures bounced on support from a smaller-than-expected USDA crop
estimate and oversold market conditions. Wheat futures rose on technical
buying, strong export demand and the stronger corn market tone. Live cattle
futures edged higher
most of the week on firm cash fundamentals, but were hit with
fund liquidation on Friday. Lean hog futures continued to find support from
firm cash fundamentals, but turned lower on pressured from fund liquidation
and ideas of a cash market top. Cotton futures were again hit by technical
selling and fund long liquidation despite a smaller-than-expected USDA crop
estimate.
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