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Article: Big price declines across most commodities.
- Article from:
- Farm Journal
- Article date:
- October 3, 2006
- Author:
CopyrightCOPYRIGHT 2006 Farm Journal Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bob Utterback
Today was not a good day for the commodity bull. Gold was down more than $13 and crude oil broke below $60, which we've not seen since last March. The dollar was up over 85.50. All of these key outside marketing indicators are having a negative tone in regards to the grains.
Over the last few months, we've commented when the outside commodities are strong they can help pull up the grains. However, when they are weak, corn, beans and wheat must go up on their own!
Right now, the wheat market has worked into the market that the Southern Hemisphere has some problems with production. We know global supply is tight, but we have ...