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October 8, 2012
In the News
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 | presents WEEKLY COMMODITY HIGHLIGHTS |
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Nearby Futures | Weekly Change | Friday's Close | Year Ago |
| Corn | -.08 ¼ | 7.48 | 6.05 ½ |
| Soybeans | -.49 ½ | 15.51 ½ | 11.63 ¾ |
| Wheat | -.45 | 8.57 ½ | 6.24 ¼ |
| Cattle | +.97 | 123.05 | 122.80 |
| Hogs | +4.15 | 81.33 | 93.68 |
| Cotton | +.65 | 69.80 | 102.75 |
| Milk | +.04 | 20.90 | 17.82 |
| Crude Oil | -2.21 | 89.88 | 79.68 |
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Comments: After receiving a one-day boost from USDA's Sept.
1 grain stocks estimates, grain and soybean futures came under renewed pressure last week from continued U.S.
harvest activity and demand concerns.
Weakness in crude oil futures tied partly to the collapse of the Iranian rial helped spur commodity fund long liquidation.
Soybean futures led the way down on speculation USDA could raise its U.S.
crop estimate significantly and prospects for record South American production.
Livestock futures had a positive week with live cattle futures boosted by a $1 rise in Plains cash trade and Friday's friendly U.S.
employment report.
Nearby lean hog futures surged on continued strength in cash hog and wholesale pork prices, while deferred contracts found support from indications of herd liquidation in USDA's quarterly inventory report.
Cotton futures managed modest gains on concerns about the Delta crop despite pressure from a firm dollar and demand concerns tied mainly to Europe's weak economy.
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