Corn: December corn futures sunk 2 3/4 cents to $4.15 3/4 and settled on session lows. Prices marked an 8 1/4 cent loss on the week. Corn futures were trading higher ahead of today’s updated Crop Production and Supply and Demand reports from USDA, which sparked some modest selling pressure and forced prices to settle near this week’s lows.
Soybeans: November soybeans fell 9 1/4 cents to $10.05 1/2 and marked a 32 1/4 cent weekly loss, while December meal closed $1.00 lower at $315.10, and is down $15.40 on the week. December soyoil slid 43 points to 43.33 cents and is down 64 points week-over-week. Corrective strength across the soy complex was negated in the wake of USDA’s fresh production, supply and demand data released late morning.
Wheat: December SRW wheat futures fell 4 3/4 cents to $5.99, nearer the session low and for the week rose 9 1/4 cents. December HRW wheat futures dropped 6 1/2 cents to $6.04 1/2, nearer the daily low, and for the week rose 6 1/2 cents. December spring wheat futures fell 6 1/2 cents to $6.43 3/4, but rose 5 1/4 cents on the week. The winter wheat futures saw some mild profit-taking and weak long liquidation heading into the weekend.
Cotton: December cotton fell 45 points to 72.21 cents, and down 106 points on the week. Cotton futures ended the week lower as USDA’s production, supply and demand data ignited selling.
Cattle: December live cattle futures fell 70 cents to $187.575, near the daily low after hitting a nine-week high early on. For the week, December cattle gained 57 1/2 cents. November feeder cattle futures fell 15 cents to $249.80 and nearer the daily low. For the week, November feeders rose 52 1/2 cents. The cattle futures markets paused today after the bulls had another good week.
Hogs: Expiring October hog futures rose 5 cents to $84.075 Friday, while most-active December climbed 70 cents to $77.65. That close represented a weekly rise of $1.50. The hog and pork complex exhibited considerable firmness this week, as indicated by the CME lean hog index being officially stated at $84.47 Wednesday, unchanged from Tuesday.