Corn: December corn futures slid 4 1/2 cents to $4.06 1/4 and settled near session lows, though the contract still gained 5 1/4 cents on the week. Corn futures surged higher on this morning’s open, fueled higher by better-than-expected export sales, but underwent steady selling pressure thereafter as risk-off trading dominated the marketplace.
Soybeans: November soybeans closed 18 1/2 cents to $10.05 but managed to rise a nickel on the week. December soymeal fell $2.10 to $324.40 but notched an $11.40 week-over-week gain, while December soyoil tumbled 154 points, bringing this week’s total losses to 238 points. Soybean futures edged lower following five straight days of gains, with soyoil leading the complex lower to end the week.
Wheat: December SRW futures lost 7 3/4 cents and settled at $5.67, though they still gained 15 1/2 cents on the week. December HRW future tumbled 11 1/4 cents to $5.77 1/2, but the Friday close still represented a 12 1/4 cents weekly rise. Wheat futures traded similarly to corn today, firming this morning before outside markets dragged prices lower.
Cotton: December cotton slipped 156 points to 67.88 cents and marked a 211-point drop on the week. Cotton futures ended the week on a low note, extending Thursday’s losses to the lowest level since mid-August.
Cattle: Falling cash prices undercut the cattle and feeder complex again Friday. October live cattle futures tumbled $2.075 to $175.175, while most-active October feeders plummeted $3.625 to $230.95. Those closes represent weekly losses of $3.425 and $6.80, respectively. Cash market weakness, particularly in Nebraska, sent the cattle and feeder complex sharply lower again Friday.
Hogs: A coming setback in the hog index undercut hog futures to end the week. Nearby October futures fell $1.20 to end the week at $79.50. That represented a weekly drop of $2.725. The CME confirmed Wednesday’s quote for the hog index at $86.43, up 16 cents from Tuesday.