Corn: December corn rose 3/4 cent to $5.28 1/4, near the session high after hitting a four-week low early on. For the week, December corn was up 3/4 cent. The corn futures market saw heavy selling pressure early in the session but clawed back all the losses by the close. A lower U.S. dollar index today did aid the corn market bulls. Next week’s USDA quarterly Grain Stocks report will provide the official ending stocks of the 2025-26 crop year.
Soybeans: November soybeans rose 1 1/2 cents to $13.19, near the daily high and for the week up 15 1/2 cents. December soybean meal fell $1.40 to $371.00, nearer the daily high and for the week up $12.40. December bean oil rose 29 points to 67.84 cents, nearer the daily high, after hitting a three-week low early on, and for the week down 38 points. The soybean and meal futures markets today saw heavier selling pressure early in the session, but were able to erase those losses by the close. The rebound from overnight lows came after U.S. Trade Representative Jamieson Greer said on CNBC this morning the U.S. and China have reached agreements covering a “subset” of non-sensitive goods that could be traded on more favorable terms.
Wheat: December SRW wheat fell 3 3/4 cents to $7.03 1/4, nearer the daily high after hitting a five-week low early on, and for the week down 11 cents. December HRW wheat lost 5 cents to $7.62, nearer the daily high, hit a six-week low early on, and for the week down 21 3/4 cents. December spring wheat futures fell 6 3/4 cents to $7.13 1/2, near mid-range and for the week down 27 3/4 cents. The winter wheat futures markets saw more profit-taking pressure and weak long liquidation as price downtrends are in place on the daily bar charts. A sell off in the U.S. dollar index today did help the wheat markets move up from daily lows. Still, today’s technically bearish weekly low closes set the table for some follow-through technical selling early next week.
Cotton: December cotton futures fell 60 points to 82.71 cents, near mid-range and for the week were up 156 points. The cotton futures market today saw more technical selling pressure. The near-term technical posture for cotton remains bearish, with a price downtrend on the daily bar chart still in place, which will keep the chart-based bears confident early next week.
Cattle: October live cattle futures fell $0.20 to $218.875, near mid-range and for the week up $2.95. November feeder cattle futures rose $3.90 to $331.975, nearer the daily high and for the week up $13.975. The cattle futures markets traded mixed today, with live cattle seeing buying interest limited by slightly lower cash trade taking place so far this week. Technical buying was featured in feeders today.
Hogs: October lean hog futures fell $0.975 to $78.225, near the daily low and for the week up 12 1/2 cents. The hog futures market saw more technical selling pressure today as prices remain trapped in a downtrend on the daily bar chart.