Corn: March corn futures settled a tick higher to $4.54 and nearer session highs. That marked a 7 3/4 cent gain on the week. Corn futures forged a fresh for-the-move high today in an impressive show of strength.
Soybeans: January soybeans fell 8 cents to $9.80 but gained 5 1/2 cents on the week. January soymeal closed down $4.80 to $300.90 but marked a $6.40 weekly gain. January soyoil rose 5 points to 39.52 cents and gained 4 points on the week. Soybeans edged correctively lower following two days of gains, led by strength in soymeal futures.
Wheat: March SRW wheat futures rose 5 1/2 cents to $5.46 1/2, near the daily high and for the week up 13 1/2 cents. March HRW futures rose 3 cents to $5.54 1/2, near the session high and on the week up 9 3/4 cents. Today’s technically bullish weekly high closes in winter wheat futures set the table for follow-through buying interest from the speculators early next week.
Cotton: March cotton rose 14 points to 68.89 cents but marked an 83-point weekly gain. Cotton futures held an inside range to end the week in low-volume trade.
Cattle: February live cattle rose 55 cents to $190.65, near the daily high and on the week up $2.25. January feeder cattle futures gained $2.075 to $261.375, near the daily high and for the week up $5.775. The ability of live and feeder cattle futures to extend Thursday’s solid gains to end the trading week, including technically bullish weekly high closes, sets the stage for follow-through chart-based buying interest early next week.
Hogs: February lean hog futures fell a nickel to $84.14, which marked a weekly loss of $1.775. Lean hog futures traded with a conflicted tone most of this week, trading largely sideways with little conviction on low volume.