Afternoon Commodities Report from Allendale for July 27, 2012

Posted on July 27, 2012

US markets continue to defy gravity despite Preliminary GDP for Q2 showing a 1.5 percent annual growth rate. Crop prices move higher today as they play catch up. I expected them to surge yesterday when comments by ECB president Mario Draghi initially made his comments and caused the dollar to weaken.

Recent Trading Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $7.9425 +0.1800
Sept 2012 Wheat $8.9900 +0.1500
Nov 2012 Soybeans $16.0200 +0.3450
Aug 2012 Soybean Oil (Metric Ton) $51.9900 +0.3100
Aug 2012 Soybean Meal (Metric Ton) $527.2000 +8.4000

Afternoon Commodities Report from Allendale

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