In the News

The March issue of Agri Marketing will feature focus reports on marketing to the rural lifestyle consumer...and to dairy producers. To schedule your organization's ad, contact Audrey Evans at 636/728-1428 ext 2003...e-mail: AudreyE@AgriMarketing.com

presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-.27	7.09	5.90
Soybeans	-21 3/4	14.52 1/2	12.31 1/2
Wheat	-.08 3/4	7.56 1/4	6.60 3/4
Cattle	-.65	126.45	125.78
Hogs	-1.20	86.45	86.28
Cotton	-.31	82.67	93.62

Comments: lthough Friday's USDA reports didn't make dramatic revisions, they did confirm bearish factors for several crops and futures prices have reacted. USDA raised U.S. corn ending stocks 30 million bushels from January's estimate because of imports three times higher than the prior year and a usage reduction of 10%. It will take time to recover that demand, suggesting that a big 2013 crop will greatly increase stocks, perhaps by as much as five-fold—very bearish long-term. USDA trimmed U.S. soybean carryout by 10 million bushels from its January report to a very tight 125 million, but markets focused on the increase in its world ending stocks estimate, now over 60 MMT and 9% above last year. Perhaps the big surprise in the report was a 1.7-million-pound increase in meat and poultry production, coming when all the talk this winter has been about tighter meat supplies. This week, holidays in several countries will reduce participation in the markets. Click on the Brock logo or call 1-800-558-3431 for more info on our services.