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August 23, 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 | +.09 ½ | 4.21 ¼ | 3.18 ½ |
Soybeans | -.34 ¼ | 10.09 ¼ | 9.99 ¼ |
Wheat | -.23 ½ | 6.79 | 4.69 |
Cattle | +5.37 | 99.60 | 84.80 |
Hogs | +2.55 | 77.20 | 46.93 |
Cotton | -.34 | 87.15 | 56.62 |
Milk | +.09 | 15.14 | 11.24 |
Crude Oil | -1.95 | 73.44 | 72.91 |
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Comments: It was another mixed week for the corn and soybean markets as corn futures continued to rally on strong demand and uncertainty about the U.S. crop size, while soybean futures turned lower on rising crop expectations and a slowdown in Chinese buying. Results from an annual Midwest crop tour fueled skepticism that corn production will reach USDA's August estimate, but boosted expectations for soybean production. Wheat futures set back under pressure from further speculative profit taking despite support from continued strong U.S. export sales and reports Russia plans significant grain imports. Livestock futures had a strong week with live cattle futures soaring as cattle prices in Plains cash markets to $100.00 jumped on tight supplies and strong beef price gains. Lean hog futures were boosted by record high wholesale pork prices, but gains were limited by signs of a seasonal increase in hog marketings. Cotton futures felt light pressure from speculative profit taking spurred by overbought market conditions, but remained well supported by tight world stocks.
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