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January 18, 2011
In the News
Be sure to reserve your organization's exhibit booth at NAMA's 2011 Agri-Marketing Conference. For info, contact Judy Knoll ph: 636/728-1428 ext 2002; JudyK@AgriMarketing.com
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
Corn | +.53 ¾ | 6.48 ¾ | 3.81 |
Soybeans | +.57 ½ | 14.22 ½ | 9.84 |
Wheat | -.0 ¾ | 7.73 ¼ | 5.27 ¾ |
Cattle | +.3.00 | 109.38 | 86.65 |
Hogs | +.10 | 79.53 | 69.98 |
Cotton | +.84 | 141.44 | 72.91 |
Milk | +.18 | 13.51 | 14.35 |
Crude Oil | +3.51 | 91.54 | 79.39 |
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Comments: Most agricultural commodity markets rose last week with corn and soybean futures roaring higher on active buying from speculators and end users as USDA lowered its 2010-11 production and carryout forecasts more than expected for both commodities. The corn market led the way higher on USDA's forecast for U.S. corn stocks to total less than 3 weeks' worth of usage at the end of 2010-11. A weaker dollar also supported futures prices. Wheat futures were little changed in choppy trade as amid ideas U.S. wheat supplies remain ample to meet demand despite a lower U.S. carryout projection from USDA. Cotton futures firmed as the weak dollar spurred fresh speculative buying and USDA left its U.S. carryout unchanged. Live cattle futures surged strongly on support from strong wholesale beef prices, rising grain prices and hopes for strong U.S. beef exports. Lean hog futures were also boosted by strong pork prices, rising corn prices and concerns about the severe foot-and-mouth outbreak in South Korea.
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