Iowa Public Television   Market Analysis: Jul 17, 2009: Tomm
Pfitzenmaier, Markey Analyst  posted on July 17, 2009  Virtually
ideal weather in much of the Grain Belt this week pressured corn
prices, while wheat trended higher.  For the week, September
wheat gained 13 cents, while the nearby corn contract lost
nearly 25 cents.  Rumors that China will dump half-a-million
tons of soybeans on the market further hampered prices. For the
week, the July contract lost $1.45 and the nearby meal contract
was down nearly $65 per ton.  In the softs, cotton moved higher
again this week as the December contract posted a gain of $1.61.
In the dairy market – and we'll be keeping an eye on this for
you – Class III Milk futures closed Friday on the Chicago
Mercantile Exchange at exactly 10.00 per hundredweight.  In
livestock, August cattle were up nearly $3.00. Nearby feeders
gained $1.68. And the August lean hog contract gained $3.52.  In
other markets of interest, the Euro gained 190 basis points
against the dollar. Crude o