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July 19, 2010
In the News
Be sure to register for the National Agri-Marketing Association's (NAMA) annual Boot Camp. For more info, go to www.nama.org
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
Corn | +.10 ¼ | 3.94 ¾ | 3.16 ¾ |
Soybeans | +.26 ¼ | 10.19 ½ | 9.76 |
Wheat | +.49 ¼ | 5.87 ¼ | 5.33 ¼ |
Cattle | +2.08 | 92.28 | 85.60 |
Hogs | +1.67 | 81.70 | 65.23 |
Cotton | +1.81 | 79.96 | 60.21 |
Milk | +.12 | 13.76 | 9.97 |
Crude Oil | -.08 | 76.01 | 62.02 |
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Comments: Grain and soybean futures continued to climb last week with the wheat market leading the way on active commodity fund short covering triggered by falling crop estimates for the Black Sea Region and Europe and technical strength. A weak dollar provided support for all agricultural commodities as it spurred hopes for improved export demand. Soybean futures also got a strong boost from Chinese demand and the latest NOAA 30-day weather outlook, which called for above-normal temperatures across the Midwest. Corn futures followed wheat and soybean futures higher with help from forecasts calling for hot weather to stress the pollinating crop across the U.S. corn belt during late July. Livestock futures turned higher with live cattle futures leading the way on support from a further $1 rise in Plains market cash prices. Lean hog futures found fundamental support from expectations for hog supplies to tighten this week. Cotton futures rebounded strongly on support from the weak dollar and strong export demand for U.S. cotton.
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