|
|
|
|
|
|
May 17, 2010
In the News
The June issue of Agri Marketing will include Focus Reports on Direct/Relationship Marketing and selling to pork producers. To schedule your ad, contact Judy Knoll at 636/728-1428 ext 2002; JudyK@AgriMarketing.com
|
|
|
|
|
|
 | presents WEEKLY COMMODITY HIGHLIGHTS |
|
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -.09 | 3.63 | 4.28 ¼ |
| Soybeans | -.08 ½ | 9.53 ½ | 11.47 ½ |
| Wheat | -.21 ½ | 4.71 | 5.93 ¼ |
| Cattle | -2.65 | 93.25 | 82.80 |
| Hogs | -1.98 | 83.55 | 67.00 |
| Cotton | +0.01 | 80.72 | 59.06 |
| Milk | +.09 | 13.33 | 9.82 |
| Crude Oil | -3.50 | 71.61 | 58.62 |
|  |
Comments: Grain and soybean futures had a rough ride last week as bearish action in outside markets put heavy pressure on prices amid rising concerns about the European economy. A further sharp surge in the dollar, combined with a further plunge in crude oil prices also helped drive index fund liquidation across commodity markets. Corn futures found support early in the week from friendly USDA supply/demand estimates and Chinese demand, but then reversed lower. Soybean futures also gave back early week gains with favorable Midwest weather forecasts adding fundamental pressure. Wheat futures collapsed as the stronger dollar was too much for the market to bear on top of bearish supply/demand fundamentals. Livestock futures were hit by economic concerns and expectations for seasonal weakness in red meat demand. Liquidation of large commodity fund long positions also pushed prices through key chart support. Cotton futures held firm amid tightening world supplies. Click on the Brock logo or call 1-800-558-3431 for more info on our services. |
|
|
|
|
|
|
|
|
|
|
|
