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July 25, 2011
In the News
Available in August...the new textbook: ProSelling by Purdue Drs. Scott Downey, Dave Downey, Laura Downey and Adayana's Mike Jackson. For more information, click here.
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
Corn | -.11 ¼ | 6.90 ¼ | 3.76 ½ |
Soybeans | -.05 ½ | 13.80 ¼ | 10.16 |
Wheat | -.02 ½ | 6.92 ¼ | 5.96 ½ |
Cattle | -.05 | 110.55 | 93.33 |
Hogs | +1.88 | 100.83 | 82.63 |
Cotton | -2.32 | 99.14 | 79.57 |
Milk | +.12 | 21.33 | 13.77 |
Crude Oil | +1.63 | 99.87 | 79.30 |
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Comments: Grain and soybean futures largely spent the week consolidating as support from lower U.S. crop conditions ratings was offset by forecasts for improved crop weather this week. Uncertainty about the U.S. debt situation also helped keep traders cautious in the grain markets. Traders were very cautious in the soybean market amid uncertainty about conditions for the U.S. crop's key August growing period. Weakness in cash basis bids put some pressure on corn futures late in the week. Wheat futures trade was extremely choppy with concerns about U.S. spring wheat conditions offset by aggressive Russian export competition and rising estimates of Russia's 2011-12 grain exports. Livestock futures had a mixed week again as further weakness in Plains cash cattle markets and wholesale beef prices kept pressure on cattle futures. Lean hog futures continued to rally as hot Midwest weather limited hog marketings and strong pork exports supported packer demand. The cotton market continued to slip amid concerns about Chinese demand and the strength of the world economy.
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