Corn: December corn fell 4 cents to $5.36 3/4, near the daily low and for the week up 1/4 cent. Prices did close at a technically bearish weekly low close today. The corn futures market hit a three-year high at mid-week and then prices consolidated amid some profit-taking pressure. Given recent solid gains, the shorter-term spec bulls likely lightened their positions heading into a three-day U.S. holiday weekend.
Soybeans: November soybeans fell 6 1/2 cents to $13.09 3/4, nearer the daily low and for the week up 21 3/4 cents. December soybean meal fell $0.40 to $355.10, near mid-range, hit a more-than-two-year high for the contract, and for the week up $6.20. December bean oil fell 77 points to 69.27 cents, near mid-range and for the week down 179 points. The soybean complex futures markets today saw some mild profit-taking pressure heading into a long U.S. holiday weekend. Losses were limited as USDA this morning reported daily sales of 250,600 MT of U.S. soybeans for delivery to unknown destinations during the 2026-27 marketing year.
Wheat: December SRW wheat 20 1/4 cents to $7.34, near the daily low and for the week down 50 cents. December HRW wheat lost 13 1/4 cents to $8.02 1/4, near the daily low and for the week down 42 cents. December spring wheat futures fell 20 1/2 cents to $7.45, near the daily low and for the week down 24 1/4 cents. The winter wheat futures markets bulls did not want to go home for the three-day holiday weekend overly long wheat futures, especially as U.S. envoys are headed for Russia and Ukraine this weekend to talk peace.
Cotton: December cotton futures fell 12 points to 86.33 cents, nearer the daily low, hit a three-week low and the week were down 505 points. The cotton futures market today saw mild profit-taking pressure today to extend daily losses to four in a row, including today’s technically bearish weekly low close that sets the markets up for follow-through, chart-based selling when trading resumes next Tuesday
Cattle: October live cattle futures fell $1.35 to $212.95, near mid-range and for the week up $1.225. November feeder cattle futures lost $0.575 to $314.725, near mid-range and for the week up $4.80. The cattle futures markets today saw modest technical selling pressure heading into a three-day weekend as both markets remain in price downtrends on the daily bar charts. October futures’ discount to the cash cattle market may work to limit the downside in futures next week.
Hogs: October lean hog futures fell $1.15 to $82.30, near the daily low for the week up 40 cents. The hog futures market saw profit-taking from the shorter-term spec traders today, heading into the three-day weekend. The bulls still had the slightly better week as recent technical signals still suggest a near-term market bottom is in place.