Corn: December corn futures sunk 2 cents to $4.04 3/4, marking an 11-cent loss on the week. Corn futures saw followthrough selling following a test of downtrend resistance stemming from the early October peak this morning.
Soybeans: November soybeans slid 18 3/4 cents to $9.70 and closed down 35 1/2 cents on the week. December soymeal fell $2.50 to $315.60 but notched a 50-cent week-over-week gain. December soyoil fell 77 points to 41.82 cents and marked a weekly loss of 151 points. Soybean futures continued to combat technical pressure combined with soyoil weakness which succumbed to extended selling in crude oil futures to end the week.
Wheat: December SRW wheat futures fell 16 3/4 cents to $5.72 3/4, nearer the session low and hit a three-week low. On the week, December SRW lost 26 1/4 cents. December HRW futures dropped 15 1/4 cents to $5.80 3/4, near the daily low and on the week down 23 3/4 cents. December spring wheat fell 12 1/2 cents to $6.16 1/4 and lost 27 1/4 cents on the week. December SRW and HRW wheat futures today scored bearish “outside days” down on the daily charts and closed at technically bearish weekly low closes.
Cotton: December cotton rose 23 points to 70.99 cents but lost 122 points on the week. December cotton edged sideways in consolidative trade to end the week as technical resistance continued to pare buying.
Cattle: December live cattle futures rose $1.15 to $187.325, nearer the daily high and for the week down 25 cents. November feeder cattle futures closed up $1.85 at $247.60, nearer the session high and on the week down $2.20. The live and feeder cattle futures markets today saw corrective rebounds and some perceived bargain hunting from significant selling pressure most of this week.
Hogs: Hog futures ended the week on a firm note, with nearby December futures ending the day up 15 cents to $77.825. That represented a weekly rise of 17.5 cents. The December hog contract essentially ended the week unchanged, which hides the fact that the market suffered big early losses, then rebounded dramatically on Wednesday.