In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

-.19

5.42 ¼

3.58 ¼

Soybeans

-.58 ½

11.43 ½

9.71

Wheat

-.01 ¼

7.18

8.45

Cattle

-.60

101.55

95.50

Hogs

+2.10

68.20

63.20

Cotton

-2.39

59.80

61.20

Weekly Comments: The turmoil in U.S. and world financial markets put more pressure on commodities prices last week, although the tide appeared to shift on Friday as stock prices responded positively to the government plan to bail out holders of bad mortgage debt. Crude oil futures rallied sharply, spurring buying across other markets. Corn and soybean futures lost ground on the week as the financial market meltdown overshadowed bullish supply fundamentals. Favorable Midwest weather limited further crop concerns. Wheat futures fell to to new lows for their downward move under pressure from mounting concerns about world demand and ample world supplies, before rebounding strongly on Friday. Live cattle futures continued to lose ground under pressure from economic worries and disappointing cash market trade despite rallying strongly on Friday. Lean hog futures rebounded on technically-driven short covering and stronger pork prices, which boosted packer demand for hogs. Cotton futures continued to sell off under pressure from economic concerns amid an absence of buying interest in the market.