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presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	+ .13 ½	7.17	6.69
Soybeans	- . 45	14.26	13.69
Wheat	+ .26	7.23	6.64 ¾
Cattle	-1.85	125.70	125.58
Hogs	-2.40	79.63	86.90
Cotton	+5.62	92.50	87.34
Milk	-.11	16.92	15.51
Crude Oil	+1.54	93.49	105.11

Comments: Fundamentally, little changed in the past week relative to the prior week; the same factors are at play. Yet we've seen some fairly substantial price shifts. The U.S. dollar and equity markets continued to show strength on several positive economic reports, including the third weekly improvement in the labor market. The wheat market improved 26¢ on signs that with soft red winter wheat prices close to par with corn, demand is really picking up domestically. At the same time, U.S. supplies are finally capturing some export sales. This helped corn gain better than 13¢ despite some farmer sales finally surfacing. Soybeans saw a 45¢ drop, mainly because their export numbers suggested South American supplies finally are entering the market—even though Brazilian ports are still clogged with beans and corn awaiting loading, as evidenced by a drop in basis there. Cotton was a star market this week, gaining a hefty 5.6¢ in the old-crop contract and carrying new-crop to 89¢, driven by strong demand. Caution is warranted however, because at these prices, buyers are likely to pull back, while a slight shift back into cotton may boost U.S. acreage from earlier intentions. The livestock market simply looks sick. Demand continues to appear anemic or at least worrisome. Friday's Cold Storage report will shed more light. Click on the Brock logo or call 1-800-558-3431 for more info on our services.