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November 10, 2008
In the News
Reservations for advertising in the annual AgriMarketing Services Guide close soon! For more information, contact Judy Knoll at 636/728-1428 ext 2002; e-mail: JudyK@AgriMarketing.com
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
Corn | - .26 | 3.75 ½ | 3.82 ¼ |
Soybeans | - .48 | 9.11 ¾ | 10.18 ½ |
Wheat | - .15 ¼ | 5.21 | 7.95 |
Cattle | + .10 | 92.80 | 94.70 |
Hogs | +.60 | 55.40 | 50.95 |
Cotton | - 2.22 | 42.07 | 64.85 |
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Comments: Grain and soybean futures came under renewed pressure from post-election profit taking and economic concerns triggered in part by a negative U.S. employment report. Renewed crude oil price weakness and a strong U.S. dollar helped spur fresh index fund liquidation across commodity markets. Soybean losses were limited by continued strong export sales to China, while corn prices found limited support from fresh harvest delays in the western Midwest. Wheat futures felt new pressure from sluggish U.S. export sales and favorable crop conditions. Live cattle futures were supported by a surge in wholesale beef prices, while hog futures rallied on short covering spurred by oversold conditions and signs of better pork demand. Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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