Corn: May corn rose 5 cents to $4.48 1/2, nearer the daily high, hit a six-week high and for the week up 8 3/4 cents. May corn futures today saw a technically bullish weekly and monthly high close, suggesting follow-through price strength early next week from the chart-based speculators.
Soybeans: May soybeans rose 7 1/4 cents to $11.70 3/4, nearer the session high and closing at a three-month high close. For the week, May beans rose 17 1/2 cents. May soybean meal fell 40 cents to $320.50, near mid-range. For the week, May meal was up $6.70. May bean oil rose 9 points to 61.85 cents, near mid-range and hit a contract high. For the week May bean oil was up 255 points. The soybean market today saw technical buying, with today’s technically bullish weekly and monthly high close pointing to follow-through buying interest from the chart-based speculators early next week.
Wheat: May SRW wheat rose 17 cents to $5.91 1/2, nearer the daily high, hit a seven-month high and for the week were up 11 1/4 cents. May HRW wheat rose 18 1/4 cents to $5.80 1/2, nearer the daily high and on the week down 4 3/4 cents. May spring wheat futures rose 14 cents to $6.12 3/4, near the daily high and for the week up 27 1/2 cents. The SRW winter wheat futures market saw a technically bullish weekly and monthly high close today, suggesting follow-through buying interest from the speculators early next week.
Cotton: May cotton futures rose 25 points to 65.61 cents, nearer the session high and for the week down 2 points. The cotton futures market saw a choppy trading week but closed out the trading month near the monthly high.
Cattle: April live cattle futures fell $4.675 to $232.225, near the session low and hit a five-week low. For the week, April live cattle lost $9.875. March feeder cattle futures lost $6.225 to $355.425, near the daily low and hit a four-week low. For the week, March feeders were down $12.60. It was a dreadful end to the trading week and month for the live and feeder cattle futures bulls.
Hogs: April lean hog futures closed steady at $95.725, near mid-range and for the week up $2.05. The lean hog futures market early today saw a modest rebound from Thursday’s losses but could not hold those gains into the close.