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presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-.07	4.15 ¼	7.51 ½
Soybeans	+.17	13.36 ½	14.48
Wheat	+.05 ½	6.55	8.69 ¼
Cattle	+2.00	133.48	128.20
Hogs	+.05	85.68	83.70
Cotton	+2.93	78.14	71.75
Milk	+.39	18.47	19.07
Crude Oil	-2.12	92.72	88.07

Comments: Corn futures drifted back toward their recent lows again as large U.S. supplies remained the dominant market fundamental. Talk continued that USDA is underestimating the record crop and overestimating demand. Soybean futures continued higher on support from strong demand and technical strength, reaching an 11-week high despite favorable weather for planting and crop development in South America. Traders continued to anticipate an upward revision in USDA's U.S. soybean export projection as export sales commitments hit 93% of USDA's current forecast. Wheat futures edged higher on technical short covering as they held near important chart support, but gains were limited by the continued weakness in corn prices. Falling production estimates for Argentina provided light fundamental support. Livestock futures were firm last week with live cattle surging on support from stronger cash trade and anticipation of tightening market-ready cattle supplies. Lean hog futures were boosted by ideas cash prices have put in a seasonal low and ongoing concerns about the U.S. PED outbreak. Cotton futures rallied on speculative short covering spurred by oversold market conditions and worries about tight U.S. cotton supplies. Click on the Brock logo or call 1-800-558-3431 for more info on our services.

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