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presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+.08	7.56 ¼	6.30 ¾
Soybeans	-.20 ¾	16.01	12.23 ½
Wheat	+.05 ¼	9.02 ½	6.38 ¾
Cattle	-3.45	122.08	120.40
Hogs	+1.37	77.18	88.78
Cotton	-2.85	69.15	98.33
Milk	-.01	18.97	17.21
Crude Oil	-.70	92.19	81.21

Comments: Grain and soybean futures spent most of last week in a continued decline amid fast U.S. harvest progress and commodity fund selling spurred by technical weakness, macroeconomic worries and end-of-quarter position evening before rallying furiously on Friday in response to USDA's Grain Stocks Report. The report held bullish news for corn and wheat, pegging Sept. 1 U.S. corn stocks 193 million bushels below USDA's previous estimate and putting Sept. 1 wheat stocks 177 million bushels below the average of trade expectations. Soybean futures rallied with the grains even though soybean stocks came in 39 million bushels above USDA's previous forecast. The tighter stocks numbers will put a higher floor under the corn and wheat markets, but traders should quickly turn their attention to next week's USDA Crop Report. The cattle and hog markets continued to move in opposite directions last week with lean hog futures rallying further on cash market strength and indications of herd liquidation in Friday's USDA inventory report, while cattle futures came under further pressure from weaker Plains cash cattle trade and seasonal weakness in beef prices. Cotton futures continued to collapse under pressure from demand concerns spurred partly by a stronger dollar. Click on the Brock logo or call 1-800-558-3431 for more info on our services.