Corn: March corn futures fell 1/2 cent to $6.53, up 9 cents on the week but down 14 cents so far this month. Corn posted modest declines following narrow-range activity as traders monitored South American weather and outside markets.
Soybeans: January soybeans rose 6 1/2 cents to $14.80, down 3 3/4 cents for the week. January soymeal rose $7.70 to $463.00, up $8.60 for the week. January soyoil fell 46 points to $63.36 cents, up 335 points for the week. Firm export demand, strength in soymeal and persistent dryness in Argentina underpinned the soy complex.
Wheat: March SRW wheat fell 3 3/4 cents to $7.53 1/2, up 19 1/4 cents for the week. March HRW wheat fell 16 1/2 cents to $8.44, still up 11 cents for the week. March spring wheat fell 9 1/4 cents to $9.09 1/2. Wheat markets were pressured by concerns over the global economy, though March HRW and SRW futures both ended five-week losing streaks.
Cotton: March cotton rose 93 points to 81.96 cents, the contract’s highest close since Dec. 6 and a gain of 101 points for the week. Cotton futures extended a sideways to firmer pattern as traders disregarded weakness in U.S. equities and crude oil and strength in the dollar.
Cattle: February live cattle rose 92.5 cents to $155.775, up 22.5 cents for the week. January feeder cattle rose 72.5 cents to $183.775, down 15 cents for the week. Cattle posted modest weekly gains amid support from a continued firm tone in the cash market and concern over frigid Plains weather. Live steers averaged $155.56 this week through Thursday morning, down just 23 cents from last week’s average and near the 7 1/2-year high posted earlier this month.
Hogs: February lean hogs rallied $4.125 to $85.775, the contract’s highest close since Dec. 7 and a $1.775 weekly advance. Futures soared as increasing signs of a cash market bottom fueled corrective buying following Thursday’s drop to two-month lows. The CME lean hog index rose 20 cents to $81.88, its third straight daily gain. Pork cutout values rose $1.95 to $87.44, down $1.12 from a week ago. Movement slowed sharply to 212 loads.