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Market Analysis: Jan 27, 2006

posted on January 27, 2006


Fund buying and weather concerns pushed wheat prices higher this week, but a Friday forecast calling for rain dampened the rally. For the week, nearby wheat futures lost 17 cents, while the March corn moved up 13-and-a-quarter.

And after trending lower last week, the Soybean market moved into positive territory. For the week, nearby bean prices gained more than 21 cents. The March contract on meal rose 7 dollars.

Cotton prices, which have been enjoying a prolonged rally, gave up ground. For the week, the March futures contract lost just over one dollar.

USDA latest numbers on the U.S. cattle herd brought out the bears in the livestock markets. The December cattle contract was down $1.87. Nearby feeders lost 85 cents and the February lean hog contract declined $3.00. In the financials, Comex gold advanced 6.20 per ounce. Nearby crude oil prices declined 59 cents per barrel. The Euro gained 38 basis points against the dollar. And the CRB Index fell one point to close at 344.50.

Here now to lend us their insight on these and other market trends is our market analysts, Alan Brugler. Welcome back.

Market Analysis: Jan 27, 2006 Alan Brugler, thank you so much. That wraps up this edition of Market To Market. But be sure to join us again next week as we continue to follow the activity in trade and the other issues directly affecting Rural America. Until then, thanks for watching. I'm Mark Pearson. Have a great week.


Tags: agriculture commodity prices markets news wheat