There was a glimmer of hope for bulls on Friday, but it was just a glimmer. Soybeans, meal and HRW closed higher, but the rest of the players fell off the merry-go-round. There was generally lower volume but the trend is clear – there is an over abundance of grain on world markets and U.S. futures have been at relative premiums. In some cases this is justified, but the market is only going to get tougher in the weeks and months ahead as southern hemisphere crops come on line. For the week as a whole:
HRS prices are down for the eighth straight week. Live Cattle prices are down six straight weeks. HRW values are down for a third week. Soyoil has just spent its third straight week ending higher. After rising for five straig...