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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jun 26, 2004
Page
5
Eastern Cornbelt carcass prices moved lower with bid ranges for various back fat thickness. Today's Illinois direct hog purchases totaled 12 995 with trading steady and demand moderate to good.
Grain futures advanced on the Chicago Board of Trade. Wheat for July delivery rose to 3.41 a bushel, July corn up to 2.76, July oats to 1.45, while July soybeans fell to 9.20 a bushel. Soybean prices edged lower.
The Commerce Department reports GDP rose 3.9 percent in the first quarter, down from 4.4 percent earlier estimate. A large trade deficit reduced growth by 0.7 percentage points, with consumer spending and business investment also softer than prior expectations.
Weak GDP data tempered optimism as tech shares and small caps rose while blue chips lagged. Dow fell 0.7 percent to 10,371.84, S&P 500 edged down 0.6 percent, Nasdaq rose 0.5 percent, and Russell 2000 climbed 1.5 percent amid year-end rebalancing and rate expectations.
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