Corn: December corn fell 1 1/2 cents to $6.80 3/4, down 3 3/4 cents on the week and the second consecutive weekly decline. Corn futures fell to the lowest levels in over a week on soft export demand and an upturn the U.S. dollar. Traders next week will watch closely for updates on the Ukraine export deal.
Soybeans: November soybeans rose 5 1/2 cents to $13.87 3/4, down 7 3/4 cents on the week. December soymeal surged $10 to $425.40, a five-week closing high. December soyoil fell 51 points to 71.79 cents. Soybeans rebounded from early losses to end with modest gains, but the November contract still posted its second consecutive weekly decline.
Wheat: December SRW wheat dropped 9 1/4 cents to $8.29 1/4, a five-week low and down 21 1/2 cents for the week. December HRW wheat fell 7 1/4 cents to $9.25, down 23 1/4 cents for the week. December spring wheat fell 8 cents to $9.42 1/2. USDA initial national winter wheat crop condition ratings Monday may show a good-to-excellent figure of 35% or lower, which would be a record low.
Cotton: December cotton fell 300 points to 72.11, the lowest close for a nearby contract since December 2020 and down 702 points from a week ago. Cotton futures extended a steep slide as the U.S. dollar turned stronger late this week and crude oil futures dropped.
Cattle: December live cattle futures fell 42 1/2 cents to $153.00, up 57.5 cents for the week. January feeder cattle fell 7.5 cents to $180.375. Live cattle posted modest gains amid an ongoing surge in cash prices. Live steers averaged $151.84 this week through this morning, up from last week’s average of $150.07 and the fourth straight weekly gain.
Hogs: December lean hog futures rose 97.5 cents to $86.10, down $3.025 for the week. Hog futures fell sharply this week as prices extended a technical breakdown as cash fundamentals showed signs of softening.