In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+.56 ¾

5.86 ¼

3.47 ½

Soybeans

+.99 ½

13.21

8.31 ¼

Wheat

+.41 ¼

8.65 ½

7.18

Cattle

+.17

101.85

92.28

Hogs

-1.80

73.75

67.80

Cotton

+2.35

67.42

56.30

Weekly Comments: Corn and soybean futures posted strong gains on mounting concerns that dry conditions in the Midwest were hurting yields. Prices also found support at midweek from stronger crude oil futures and a weaker dollar. Gains were trimmed on Friday by pre-weekend profit taking and a sharp drop in crude oil futures. Wheat futures were again boosted by corn market strength, technical buying and good export demand for U.S., but showed signs of topping on Thursday as large U.S. and world production capped gains. Live cattle futures chopped sideways all week with pressure from weaker cash cattle prices offset by support from tightening fed cattle supplies and sharp corn price gains. Lean hog futures fell again as significant declines in cash hog and wholesale pork prices signaled a seasonal cash top. Losses were limited by front-end futures' discount to cash and higher corn prices. Cotton futures were boosted by the commodity fund buying that lifted most commodity markets on Wednesday and Thursday.