Corn: May corn futures rose 6 cents to $6.39 3/4 and nearer the session high. For the week, May corn lost 9 1/2 cents. The corn futures bulls late this week were able to stabilize prices after the recent downdraft that pushed the market to a six-month low Wednesday.
Soybeans: May soybeans rose 9 1/2 cents to $15.18 3/4, marking a 1/2-cent loss on the week. May meal rose $9.00 to 481.30, while May soyoil dropped 71 points to 61.19 cents. Soybeans accomplished a three-day trek to the upside, ending higher on the week after experiencing a hard sell off to start the week.
Wheat: May SRW closed 4 cents lower at $7.08 3/4, losing 13 cents on the week and marking the lowest weekly close since September 2021. May HRW closed 9 3/4 cents lower at $8.16 1/4. May spring wheat fell 2 1/2 cents to $8.73 3/4. Bears have failed follow through efforts in SRW futures after last week’s rout.
Cotton: May cotton rose 46 points to 84.17 cents but fell 73 points on the week. Cotton futures ended the week mostly sideways after making brief attempts above 86.00 cents early in the week.
Cattle: April live cattle advanced $1.325 to end the week at $165.425; that marked a 5-cent weekly rise. The bull market in cattle and feeders is likely to continue next week, since market-ready supplies are extremely tight and demand remains robust.
Hogs: April lean hog futures rose 70 cents to $84.55 and near mid-range. For the week, April hogs fell $1.47 1/2. The lean hog futures bears had the better week this week as a fledgling price downtrend is now in place on the daily bar chart for April futures.