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January 20, 2009
In the News
AgriMarketing congratulates President Barack Obama on this historic day and wish he and his team success on behalf of our country and the world.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.19 ¾ | 3.91 | 5.02 ½ |
| Soybeans | - 17 ½ | 10.20 | 12.77 |
| Wheat | - .51 ¼ | 5.78 ¼ | 9.26 ½ |
| Cattle | +1.43 | 84.53 | 90.05 |
| Hogs | -2. 50 | 59.95 | 54.45 |
| Cotton | - .32 | 49.00 | 71.31 |
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Comments: A 21% increase in USDA's 2008-09 corn carryout projection combined with an unexpected rise in the estimated soybean carryout to shock corn and soybean futures into huge losses on Monday. However, a significant portion of those losses were recovered later in the week as concerns about the drought in Argentina heightened. Forecasts for low U.S. acreage also supported corn prices, while Chinese buying remained supportive for soybeans. Wheat futures fell sharply along with corn and beans on Monday, then struggled to recover amid a continued lack of export demand. Live cattle futures got a boost from rising beef prices and packer operating margins, while lean hog futures were pressured by falling pork prices and negative packer margins. Cotton futures consolidated as negative economic news limited buying.
Click on the Brock logo or call 1-800-558-3431 for more info on our services.
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