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September 2, 2008
In the News
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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-.18
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5.68 ¼
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3.40 ¼
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Soybeans
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+.09
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13.32
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8.58 ½
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Wheat
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-.86 ¼
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7.79 ¼
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7.42
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Cattle
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-1.73
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104.05
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94.65
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Hogs
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-5.32
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68.43
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67.75
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Cotton
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+.11
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67.53
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55.60
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Weekly Comments: Corn and soybean futures started the week strongly on support
from weather concerns and technical buying, but faltered after failing to
clear chart resistance on Monday. Prices came under pressure later in the
week from favorable rains in the western Corn Belt. Soybean futures were also pressured by poor weekly export sales and a weak
July soybean crush. Wheat futures posted major losses under renewed pressure
from ample world wheat supplies and technical selling. Beneficial rains in Australia and Argentina were a negative market factor.
Live cattle futures came under pressure from sharp declines in hog futures
and beef demand concerns. Lean hog futures were smashed by
heavy selling on Tuesday and Wednesday as pressure from plunging cash
hog and wholesale pork markets pushed prices into technical sell stops.
Cotton futures wound up little changed on the week as concerns about
potential crop damage from Hurricane Gustav offset pressure from a
strengthening dollar.
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