Forms to collect updated information for the 2012 Agri Marketing Services Guide have been distributed. If you want a copy, or to schedule an ad, contact Audrey Evans at AudreyE@AgriMarketing, 636/728-1428 Ext 2003.
Comments: Grain and soybean futures largely treaded water last week as uncertainty about the EU debt situation and the bankruptcy of MF Global pushed many traders to the sidelines and created choppy price action. Firm U.S. cash markets continued to support corn and soybean futures as slow export demand and favorable South American planting conditions kept pressure on soybean prices. Wheat futures remained under pressure from Black-Sea region domination of the world export market. Grain futures may not be headed anywhere very quickly as this week's USDA reports are not expected to show major changes in U.S. production. Expectations are for USDA to lower its projected corn carryout and raise its soybean carryout forecast. Live cattle futures last week shot higher after packers paid higher prices in Nebraska cash markets. Poor packer operating margins cloud the potential for further cattle price strength. Lean hog futures showed little change amid ideas falling wholesale pork prices would soon bottom on support from strong export demand. Cotton futures gave back most of the previous week's gains as the dollar rallied and export demand dropped off.
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