In the News

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presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-.11 3/4	7.27	6.24 3/4
Soybeans	-.68 3/4	13.83 1/4	11.87 3/4
Wheat	-.48 1/2	8.38/td>	6.16 3/4
Cattle	+.40	126.15	122.05
Hogs	-.42 1/2	80.32 1/2	85.55
Cotton	+3.15	72.73	103.50

Comments: Without a doubt, the biggest factor dominating commodity markets last week was the fear engendered by the so-called fiscal cliff. The threat of a second recession and its demand-dampening effects spawned by soaring tax rates and losses of investment incentives turned investors widely negative. Somewhat ironically, the dollar rose as a safe haven even as stock markets plunged. The stronger dollar was seen as a headwind for U.S. exports, further tarnishing demand prospects for U.S. corn and which, which have been priced out of world markets because of cheaper Black Sea supplies, which finally seem to have run out. Soybean exports have been exemplary—until China last week canceled 600,000 tons that were on the books even as its government began stockpiling the domestic 2012 crop. Livestock markets have been surprisingly resilient, with live cattle futures mostly sideways the past three weeks and jumping higher Monday after Friday's Cattle on Feed report confirmed tight supplies. Click on the Brock logo or call 1-800-558-3431 for more info on our services.