Corn: March corn futures closed 7 3/4 cents lower to $4.87 1/2, though still marked a 5 1/2 cent gain on the week. Corn futures saw selling pressure to end the week and settled near Thursday’s lows, which served up impressive support in the latter half of the session.
Soybeans: March soybeans fell 11 cents to $10.49 1/2 but still gained 7 1/2 cents on the week. March soymeal fell $5.00 to $301.40 but managed to notch a 30-cent weekly gain. March soyoil rose 58 points to 45.98 cents and ended the week down 13 points. Soybean futures ended the week under pressure amid corrective selling after touching a four-month high midweek.
Wheat: March SRW futures slid a nickel to $5.82 3/4 though climbed 23 1/4 cents on the week. March HRW futures fell 3 1/4 cents to $6.04 1/4, though still climbed a quarter on the week. Wheat futures ended the week modestly lower after making a fresh for-the-move high in the overnight session.
Cotton: March cotton fell 40 points to 65.63 cents and lost 25 points on the week. Cotton futures continue to be weighed down technically, with early-week strength negated by returned U.S. dollar strength as trade uncertainties ring through the marketplace.
Cattle: Cattle futures stabilized in the wake of this week’s breakdown, with nearby February rising 15 cents to $200.775 at Friday’s close. Most-active April futures closed unchanged at $196.775; the settlement price represented a weekly drop of $5.525. March feeder futures fell 40 cents to $264.90, thereby marking a weekly plunge of $10.825. Given the size and length of the preceding price advance, next week’s cash market activity is likely to see another significant loss.
Hogs: Hog futures continued their rally into the weekend, with the expiring February contract rallying 60 cents to $87.25. Most-active April gained 40 cents to close at $92.15. That represented a weekly rise of $1.80. Seasonal forces continued driving hog and pork prices higher through this week and seem likely to continue doing so again next week.