After the Bell: Eased Chinese Trade Tensions Support Grain, Soy Futures

Posted on 05/18/2018 3:38 PM

Corn: Corn futures settled 6 1/2 to 7 1/2 cents higher through the December contract. Support came from eased trade concerns with China after it surprisingly ended its probe into U.S. sorghum exports. For the week, July corn futures firmed 6 cents, while the December contract rose 5 3/4 cents.

Soybeans: Soybean prices finished up 3 1/2 to 4 cents on support from eased Chinese trade tensions. For the week, July soybeans lost 4 3/4 cents. Meal prices ended up 50 cents to $1.20 higher today.

Wheat: Wheat futures surged to close out the week, with the winter wheat markets ending 19 to 20 3/4 cents higher and spring wheat futures up 10 1/4 to 14 1/4 cents. Wheat futures were supported by news on the Chinese trade front and dryness concerns in the U.S., Australia and the Black Sea region.

Cotton: Cotton futures ended the week on a positive note, with gains of 79 to 152 points. But futures finished well off session highs. For the week, July cotton futures rallied 193 points, while the December contract firmed 219 points.

Hogs: June lean hogs finished today low-range and down $1.775, while the deferred contracts were down 70 cents to $1.00. For the week, June hog futures were down slightly.

Cattle: Live cattle futures settled 55 to 87 1/2 cents lower today. Feeder cattle ended 87 1/2 cents to $1.425 lower. For the week, June live cattle futures plunged $5.225, while August feeders dropped $6.275.

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