The May issue of Agri Marketing will feature salutes to NAMA's 2010 Ag Leaders, ag's largest agencies and an update on Market Research. For info, contact Judy Knoll at 636/728-1428 x2002; JudyK@AgriMarketing.com
Comments: Corn and soybean futures rallied in the face of favorable planting weather on commodity fund short covering and technical buying after breaking out of their short-term downtrends. Oversold market conditions and concerns about short-term supply tightness in cash markets helped trigger the rally. Soybeans found added support from indications of continued strong Chinese demand. Wheat futures also broke out of short-term downtrends, which spurred funds to pare back their huge short position in the market despite continued bearish supply/demand fundamentals. Live cattle futures edged lower under pressure from weaker Plains cash cattle markets, but losses were limited by firm wholesale beef prices. Lean hog futures continued to rally on support from surging cash hog and pork prices. Cotton futures were underpinned by tight old-crop supplies and positive sentiment about the general economy. Click on the Brock logo or call 1-800-558-3431 for more info on our services.
