Corn: December corn closed steady at $4.62, nearer the daily low and for the week down 2 cents. The corn futures market saw some short covering and position evening for most of the session, to keep prices above unchanged but lost its modest gains late on position evening. Wetter weather forecasts for the Corn Belt the next couple weeks will likely limit buyer interest in corn futures.
Soybeans: November soybeans fell 1 1/2 cents to $11.76 1/4, near the daily low and for the week down 11 1/4 cents. September soybean meal lost $2.70 to $308.90, near the daily low and hit a four-week low. For the week, September meal was down $6.00. September bean oil rose 50 points to 68.24 cents, nearer the daily high and for the week up 98 points. The soybean market today saw early short covering and then lost the mild gains late due to position evening ahead of next week’s USDA monthly supply and demand report on Wednesday, when U.S. production and yields updates will be issued.
Wheat: September SRW wheat rose 8 1/2 cents to $6.39 3/4, near mid-range and for the week up 1/2 cent. September HRW wheat gained 14 1/4 cents to $7.14, nearer the daily high and for the week up 6 1/2 cents. September spring wheat futures rose 8 1/2 cents to $6.79 1/2, nearer the daily high and for the week down 10 1/4 cents. The winter wheat futures markets today saw short covering and perceived bargain hunting today as some major wheat-growing regions of the globe have seen weather problems, while shipping grains out of the Black Sea remains problematic. Ukraine’s Agriculture Ministry has warned exports could fall from 64.4 MMT to 29.6 MMT in 2026-27 without regular port operations.
Cotton: December cotton futures rose 124 points to 84.40 cents, near the daily high, hit a nearly three-month high and for the week up 261 points. The cotton futures market today saw more chart-based buying as a price uptrend on the daily bar chart remains firmly in place. Today’s technically bullish weekly high close also gives the bulls confidence heading into trading early next week.
Cattle: October live cattle futures rose $0.35 to $225.275, near mid-range and for the week down $1.975. September feeder cattle futures rose $3.65 to $345.225, near the daily high and for the week up $3.125. The cattle futures markets in late trading today saw short covering to allow prices to finish above unchanged, after both markets earlier saw some follow-through technical selling from Thursday’s solid losses.
Hogs: October lean hog futures rose $0.50 to $82.225, near the daily high and hit a four-week low early on. For the week, October hogs were down $2.625. The lean hog futures market paused amid some mild short covering today but the bulls had a dreadful week. Technicals remain firmly bearish as prices are in a steep downtrend on the daily bar chart. Declining cash hog prices also favor the futures bears.