Corn: March corn fell 3/4 of a cent to $4.43 3/4 and near mid-range. For the week, December corn was up 3 cents. It was not a bad trading week for the corn futures bulls, given the selling pressure seen in the soy complex futures and the winter wheat futures markets, especially SRW.
Soybeans: January soybeans fell 3 cents to $10.49 1/4, nearer the daily low, hit a seven-week low and for the week were down 27 1/2 cents. January soybean meal closed down 80 cents at $297.60, nearer the session low, hit a seven-week low and on the week down $4.90. January bean oil lost 21 points to 47.90 cents, nearer the daily low and hit a six-month low--and for the week were down 217 points. January soybean, meal and bean oil futures today saw a technically bearish weekly low closes as prices are trapped in downtrends on the daily bar charts.
Wheat: March SRW wheat rose 2 cents to $5.09 3/4, nearer the daily high and for the week down 19 1/2 cents. March HRW wheat fell 1 3/4 cents to $5.15 1/4, near mid-range and on the week down 2 3/4 cents. March spring wheat futures rose 5 cents to $5.78, nearer the daily high and for the week up 3 cents. The winter wheat futures markets remain trapped in price downtrends on the daily bar charts.
Cotton: March cotton futures rose 24 points to 63.75 cents, nearer the daily high. For the week, December cotton lost 8 points. The cotton futures market late this week saw some tepid short covering.
Cattle: February live cattle futures rose $2.40 to $230.80, nearer the daily high and hit a seven-week high. For the week, February live cattle rose $1.25. January feeder cattle futures gained $5.325 to $345.60, nearer the daily high and hit a seven-week high. For the week, January feeders were up $6.50. The cattle futures markets bulls flexed their muscles today by producing new for-the-move highs and technically bullish weekly high closes.
Hogs: February lean hog futures rose 37 1/2 cents to $84.50, nearer the session high, hit a seven-week high and for the week down 2 1/2 cents. The bullish near-term chart posture for lean hog futures and recently rebounding cash hog market set the futures market up for some more speculator buying interest early next week.