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Market Analysis: Jan 14, 2005

posted on January 14, 2005

Disappointing export sales hampered prices in the grain pits. For the week, nearby wheat futures lost more than 12 cents. March corn dropped more than nine cents.

The trade seemed unimpressed by predictions from Informa about a shift in acres from corn to beans this year. For the week, January beans lost nearly a dime. The nearby meal contract was off by just 10 cents a ton.

The cotton market traded in a narrow range and for the week declined 39 cents.

In livestock, the February live cattle contract advanced $2.40. Nearby feeders gained $2.05. And the February lean hog contract jumped $1.82.

In the financials, Comex gold gained $3.50 an ounce. The Euro advanced 58 basis points against the dollar. And the CRB Index climbed four points to close at 283.25.

Here now to lend us his insight on these and other market trends is one of our senior market analysts, Doug Hjort. Welcome back.

Market Analysis: Jan 14, 2005 Thanks Doug. That wraps up this edition of Market To Market. But if you'd like more information from Doug on where these markets are headed, then be sure to check out the streaming audio on the Market Plus page at our Market To Market Web site.

And be sure to join us again next week when we'll examine efforts in the world arena to liberalize farm trade.

Until then, thanks for watching. I'm Mark Pearson. Have a great week.

Tags: agriculture commodity prices markets news