Corn: March corn futures closed steady at $4.28, settling well off overnight highs. Corn futures struggled to maintain overnight strength and ended the day nearer session lows, capping a disappointing few days of trade.
Soybeans: January soybeans rose 5 1/4 cents to $9.88 3/4, nearer the session high, while January soymeal closed up $4.00 at $295.40 and above the 20-day moving average for the first time since Oct. 3. January soyoil plunged 179 points to 40.92 cents, marking the lowest close since Sept. 18. Soybean futures managed to extend Tuesday’s gains.
Wheat: March SRW wheat futures fell 9 1/2 cents to $5.48 1/2 and near the daily low. March HRW wheat futures fell 14 1/4 cents to $5.44 1/2, near the daily low and closed at a contract low close. March spring wheat tumbled 10 1/4 cents to $5.91 1/4. This week has seen technical selling pressure from the speculators featured as winter wheat futures remain in near-term price downtrends.
Cotton: March cotton closed 7 points higher at 71.75 cents, ending near mid-range. Cotton futures held a tight range to end the week, with a plummeting U.S. dollar not supportive enough for traders to tackle resistance at the 100-day moving average.
Cattle: February live cattle futures rose 90 cents to $188.60, nearer the daily high and closing at a four-week high close. January feeder cattle futures gained 67 1/2 cents to $258.775, near mid-range and hit a 4.5-month high early on. The feeder cattle market this week continues to lead price action in the cattle futures markets.
Hogs: December lean hog futures sunk 70 cents to $82.40 and settled nearer session lows. December lean hog futures underwent modest selling pressure while deferred contracts posted modest gains.