In the News

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presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-.08 ¼	4.24	7.24 ½
Soybeans	+.12 ¾	13.16 ½	14.30 ¼
Wheat	-.05 ½	5.63 ½	7.81 ¼
Cattle	+4.65	140.35	126.60
Hogs	+.35	86.18	84.60
Cotton	+4.21	86.80	77.78
Milk	+.44	20.94	18.10
Crude Oil	+1.65	94.37	95.49

Comments: Soybean futures continued to rally last week on support from strong demand and the return of hot weather over Argentina's crop belt, but forecasts for needed rainfall in Argentina and a strong crop in Brazil limited gains along with chart resistance. Corn futures showed no follow-through to the previous week's reversal up, giving back most of their gains under pressure from increased cash corn movement and mixed demand news. Chinese rejections of U.S. corn and DDGS shipments remained a negative market factor. Wheat futures could not hold early week strength and slid to new lows on the renewed weakness in corn prices and technical selling. Ample world wheat supplies continued to put fundamental pressure on prices amid the absence of any significant crop issues. Live cattle futures were probably the story of the week as they surged to record highs on support from record high wholesale beef and cash cattle prices. The choice beef cutout value surged 7.8% higher on the week amid tight supplies and post-holiday demand. Lean hog futures edged higher on the cattle market strength and a modest recovery in wholesale pork prices. Cotton futures surged on concerns about dwindling stocks of good quality cotton and prospects for smaller Chinese cotton plantings this year. Click on the Brock logo or call 1-800-558-3431 for more info on our services.