Corn: May cotton fell 58 points to 65.89 cents, but for the week rallied 351 points. Cotton futures faced modest pressure to end the week, despite continued pressure on the U.S. dollar and slight corrective gains in crude oil futures.
Soybeans: May soybeans rallied 13 3/4 cents to $10.42 3/4 and surged 65 3/4 cents on the week. May soymeal rose $1.70 to $299.60 and scored a $16.50 weekly gain. May soyoil jumped 103 points to 47.35 cents and posted a 151-point week-over-week gain. Soybean futures soared to end the week, despite China’s additional ramped up tariffs on U.S. imports.
Wheat: May SRW wheat futures rose 17 3/4 cents to $5.55 3/4, near the daily high, hitting a three-week high and on the week up 26 3/4 cents. May HRW wheat futures gained 10 cents to $5.68 and on the week rose 10 1/2 cents. The technically bullish weekly high closes today in the winter wheat futures markets sets the table for follow-through buying interest from the chart-based speculators next week.
Cotton: May cotton fell 58 points to 65.89 cents, but for the week rallied 351 points. Cotton futures faced modest pressure to end the week, despite continued pressure on the U.S. dollar and slight corrective gains in crude oil futures.
Cattle: June live cattle rose $1.60 to $196.80, nearer the daily high but on the week down $1.40. May feeder cattle futures gained $3.40 to $278.70, near the daily high and on the week up $3.825. Short covering was featured today in the cattle futures markets, following the recent price downdrafts.
Hogs: June lean hog futures inched 15 cents higher to $95.325 and marked a $1.775 gain on the week. Expiring April futures slid 57.5 cents to $85.425, weighed down by weaker cash prices. Hog futures ended the day mixed after trading within Thursday’s as traders continue to digest this week’s changes in trade policy.