Corn: December corn futures climbed 5 cents to $4.24 and closed near session highs, though still dropped 7 cents on the week. December corn futures rebounded today, posing the sole daily gain of this week.
Soybeans: January soybeans rose 11 cents to $9.98 1/2 but fell 31 3/4 cents on the week. December soymeal rose $2.60 to $289.60 but notched a $6.60 weekly loss. December soyoil rose 91 points to 45.35 cents but lost 342 points on the week. Soybeans took back a portion of Thursday’s losses, with easing pressure across soyoil futures curbing this week’s selloff.
Wheat: December SRW wheat futures rose 6 1/4 cents to $5.36 1/2 and near the session high. For the week, December SRW fell 36 cents. December HRW wheat gained 7 cents to $5.40, nearer the daily high and on the week down 24 1/4 cents. December spring wheat rose 5 3/4 cents to $5.72 1/4 , but fell 25 1/2 cents on the week. The winter wheat futures markets saw short covering to end the week, after SRW and HRW hit 2.5-month lows Thursday.
Cotton: December cotton fell 152 points to 66.80 cents and lost 418 points on the week. Cotton futures ended the week on a sour note, edging to a three-month low in intraday trade as selling in crude oil futures and looming economic uncertainty in top importer, China, curbed buyer interest.
Cattle: December live cattle futures closed steady at $182.95, nearer the daily low and hit a seven-week low early on. For the week, December cattle lost 75 cents. January feeder cattle futures soared $4.025 to $247.225, nearer the daily high and hit a four-week high. On the week, January feeders rose $5.80. The live and feeder cattle futures markets somewhat diverged to end the trading week, with December live cattle pausing, while January feeders closed solidly up and at a technically bullish weekly high close.
Hogs: Hog futures continued sliding Friday despite a big rebound in pork cutout. December hogs fell 60 cents to $79.50. The closing quote represented a weekly decline of 92.5 cents. Expectations for short-term weakness weighed on hog futures again Friday, with traders clearly expecting more of the same through the next few weeks.