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August 16, 2010
In the News
Nominations for Agri Marketing's 2010 Product Of The Year are now open. For more info, go to www.AgriMarketing.com and access "Listing Forms" from the top navigation bar.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
Corn | +.06 ¾ | 4.11 ¾ | 3.24 ½ |
Soybeans | +.04 ½ | 10.43 ½ | 10.65 ¼ |
Wheat | -.23 ¼ | 7.02 ½ | 4.81 ½ |
Cattle | +1.55 | 94.33 | 84.18 |
Hogs | +.58 | 74.65 | 48.80 |
Cotton | +3.09 | 87.49 | 62.21 |
Milk | +.01 | 15.05 | 11.08 |
Crude Oil | -5.31 | 75.39 | 70.16 |
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Comments: Grain and soybean futures had a mixed week as corn and soybean futures rallied in the wake of Thursday's USDA crop production and supply/demand reports, which showed strong demand offsetting record U.S. production. USDA trimmed the projected 2010-11 corn carryout further on strong export prospects, leaving the projected corn stocks-to-use ratio at 9.7%, the lowest since 2003-04. Wheat futures lost ground in volatile trade on continued speculative profit taking despite concerns about the ongoing drought in Russia and lower-than-expected U.S. and world ending stocks estimates from USDA. Live cattle futures posted solid gains on support from stronger Plains cash markets, good beef demand and fund technical buying. Lean hog futures rebounded modestly on support from firm cash fundamentals and hot Midwest weather. Cotton futures surged to new highs after USDA cut its forecast for world ending stocks further.
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