In the News

The May issue of Agri Marketing will include Salutes to NAMA's Ag Biz Leader ZOETIS' Clint Lewis and Marketer of the year Paul Redhage. Plus ag's largest agencies. For more info, contact Audrey Evans at 515/954-8589 or e-mail AudreyE@AgriMarketing.com.

presents WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	- .15 ¼	3.64 ½	5.01 ¼
Soybeans	+ .01	9.69 ¾	14.72
Wheat	- .08 ½	4.86	6.89
Cattle	+ 3.38	161.18	144.25
Hogs	+ 1.43	71.95	122.90
Cotton	+ 3.21	66.50	92.66
Milk	unch.	15.80	24.31
Crude Oil	- .17	57.15	101.94

Comments: Corn and wheat futures were lower for the week on favorable weather conditions and a lack of fresh demand news. Corn fell to its lowest level since the fall as weather forecasts for the last week of April and early May looked ideal for planting. Wheat, along with soybeans, ratcheted higher for much of the week but tumbled on Friday. Firm basis levels thanks to a lack of farmer selling is helping limit the downside in soybeans for now, and the favorable planting weather could mean more corn acres at the expense of soybeans. Cotton futures surged on improved demand and speculative buying. Rice futures were higher in a tepid rebound driven by short-covering after the market held above its recent bear-market lows.

Live cattle futures tumbled at the start of last week but rebounded strongly and posted weekly gains. However, Friday afternoon's wholesale beef prices were down by more than $3, and the Cattle on Feed report was negative versus expectations, showing placements and total cattle on feed steady with a year ago, compared to expected declines of 5.5% and 1.4% respectively. Lean hog futures were higher on the week on signs of improving pork demand. Click on the Brock logo or call 1-800-558-3431 for more info on our services.

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