Corn: March corn futures settled 1 1/2 cents lower to $4.42, up 2 cents on the week. Corn futures continued lower following Wednesday’s rejection off $4.50 resistance.
Soybeans: January soybeans lost 7 1/2 cents to $9.88 1/4, marking a 5 1/2-cent loss on the week. January meal futures fell $3.3 to $286.2 and marked a fresh contract low. January bean oil futures fell 6 points to 42.61 cents. Soybean futures saw a disappointing day of trade as prices fell near this week’s low and uptrend support dating back to the November low.
Wheat: March SRW wheat futures fell 6 1/4 cents to $5.52 1/4 and near the daily low. For the week March SRW lost 5 cents. March HRW wheat fell 5 3/4 cents to $5.57, nearer the daily low and on the week up 3 1/4 cents. Today’s technically bearish weekly low closes in winter wheat futures markets set the table for follow-through, chart-based selling pressure early next week.
Cotton: March cotton futures fell 82 points to 69.27 cents, near the daily low and a three-week-low close. For the week, March cotton lost 84 points. Today’s technically bearish weekly low close in March cotton futures sets the stage for follow-through selling pressure from chart-oriented speculators early next week.
Cattle: Expiring December live cattle rose $1.525 to $193.65 Friday, while most-active February futures climbed $1.175 to $192.025. That marked a weekly surge of $5.85. January feeder futures fell 90 cents to $257.65, which represented a weekly rise of $1.825. Cash cattle and wholesale beef fundamentals remain very supportive of the short-term cattle outlook.
Hogs: Cash hog and wholesale pork strength powered fresh gains in hog futures. The December contract expired 17.5 cents higher at $83.725. February futures surged $1.125 to $85.60 at the close. That represented a weekly drop of $1.725. After proving quite weak Monday and Tuesday, hog futures ended the week on a strong note.