Corn: December corn futures climbed 3 3/4 cents to $4.14 1/2 but marked a 3/4 cent loss on the week. Corn futures saw relative strength today compared to wheat and soybeans after trading in a tight range for most of the week.
Soybeans: January soybeans fell 3/4 cent to $9.93 3/4 and gave up 2 1/4 cents on the week. December soymeal closed $4.20 lower at $295.30, marking a $10.50 weekly loss, while December soyoil rallied 116 points to 46.30 cents, securing a 215-point weekly gain. Rallying soyoil futures lifted the soy complex this week but lost some steam after reaching a four-month intraday high in early trade, pressuring soybean futures from session highs.
Wheat: December SRW futures sunk 2 1/2 cents to $5.68, losing a penny on the week. December HRW futures dropped 2 1/2 cents to $5.66 3/4, down 5 1/4 cents on the week. December HRS futures fell 4 1/2 cents to $5.99 3/4 and for the week fell 5 1/2 cents. Wheat futures failed to maintain overnight strength as sellers took hold of the session after this morning’s open.
Cotton: December cotton rose 60 points to 70.17 cents but gave up 49 points on the week. December cotton modestly favored the upside to end the week as technical resistance continued to curb buying interest.
Cattle: December live cattle futures continued this week’s slide, losing 37.5 cents to $185.925 on the day and $3.225 on the week. Conversely, November feeder futures rebounded $1.50 to $246.875 at settlement. That close marked a weekly drop of $1.70. Bears likely expected to dominate late week futures trading in nearby December cattle futures after having triggered big CME losses Tuesday and Wednesday.
Hogs: Hog futures continued their recent surge, with the nearby December contract posting a fresh contract high before setting back. It ended Friday at $84.075, up 27.5 cents on the day and $4.40 on the week. The ongoing advance in hog and pork values shows little sign of slowing.