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January 11, 2010
In the News
The deadline for submitting nominations for the Agribusiness Leader and NAMA Marketer of the Year awards is this Friday, Jan. 15. To make a nomination, go to: http://www.nama.org/awards/agribusinessform.htm.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | +.08 ½ | 4.23 | 4.06 ¾ |
| Soybeans | -.26 ¾ | 10.13 | 9.89 |
| Wheat | +.27 | 5.68 ½ | 6.12 ½ |
| Cattle | -.35 | 85.83 | 83.15 |
| Hogs | +1.65 | 67.25 | 62.43 |
| Cotton | -3.16 | 72.44 | 50.42 |
| Milk | +.11 | 14.33 | 10.95 |
| Crude Oil | +3.39 | 82.75 | 41.70 |
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Comments: Corn and wheat futures were supported last week by strong speculative buying that appeared to be tied to an influx of fresh investor money to start the new year. Index fund rebalancing, which appeared to get underway late in the week, was also supportive, while fundamental support came from harsh winter weather that severely limited grain movement in cash markets. Soybean futures started the week strongly on speculative buying, but reversed amid signs of Chinese demand switching to new-crop South American soybeans and signals of a tighter Chinese monetary policy. A larger Brazilian soybean crop estimate also weighed on prices. Livestock futures found good support from winter weather, which stressed cattle and hogs and limited marketings. Live cattle futures, however, turned lower on speculative profit taking spurred by their premium to cash and uncertainty about beef demand. Cotton futures were pressured by grower selling and accelerated lower on concerns about Chinese demand after China's central bank raised short-term interest rates. Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
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