Corn: December corn futures fell 10 cents to $5.36 1/4, though prices still gained 22 1/2 cents on the week. December corn futures fell under pressure once again as price retraces Wednesday gains despite ongoing tension in Ukraine.
Soybeans: November soybeans fell 2 1/4 cents to $14.08 1/4, nearer the session high and gained 37 1/2 cents on the week. August meal rose $2.30 to $442.80, a $19.00 increase week-over-week, while August soyoil rose 176 points to 69.40 cents, gaining 435 points on the week. Soybean futures ended the week in choppy fashion as profit taking in grains along with strength in the U.S. dollar pressured prices, while extended gains in soyoil ultimately curbed losses.
Wheat: December SRW wheat fell 28 1/2 cents to $7.17 3/4 and near the session low. For the week, December SRW gained 37 cents. December HRW wheat dropped 14 cents to $8.66 3/4, near mid-range and for the week up 33 1/4 cents. December spring wheat fell 15 1/4 cents to $8.96 1/2 and gained 7 cents on the week. The winter wheat futures markets today saw profit-taking pressure from this week’s solid gains.
Cotton: December cotton rose 17 points to 84.48 cents, ending mid-range after posting the highest intraday level since early Feb. The contract gained a solid 326 points on the week. Cotton futures pushed higher for the fifth straight session as hot, dry weather continues in key U.S. growing regions, heightening supply concerns.
Cattle: Traders anticipating a summer decline in fed cattle prices actively sold live cattle futures again today. Nearby August cattle slid 30 cents to $180.025, while August feeder futures rallied 82.5 cents to $245.925. Those closing prices represented weekly losses of 15 cents and 72.5 cents, respectively. Cash cattle trading accelerated Thursday, with the five-area average surging to $186.74.
Hogs: August lean hog futures rose 5 cents to $100.675 and nearer the session low. Prices hit a four-month high early today. It was another good week for the lean hog futures bulls, gaining nearly $5.00 and including Friday’s technically bullish weekly high close that set the table for more price gains early next week.