Corn: July corn fell 1/4 cent to $4.57 1/2, nearer the daily high and for the week up 6 1/2 cents. Corn futures trading this week was choppy but the bulls had the better week, supported by rallying wheat prices.
Soybeans: July soybeans rose 2 1/2 cents to $11.83, nearer the daily high and for the week down 7 3/4 cents. July soybean meal fell $0.90 to $327.20, near the session high and for the week down $1.60. July bean oil lost 114 points to 67.91 cents, nearer the daily low and for the week up 89 points. The soybean market paused most of the session amid a sharp sell off in bean oil that came due a strong downside move in crude oil prices.
Wheat: July SRW wheat fell 7 1/4 cents to $5.99 1/4, near mid-range and for the week were up 18 1/2 cents. July HRW wheat lost 5 cents to $6.50, nearer the daily high and for the week up 45 cents. July spring wheat futures rose 3 1/4 cents to $6.70 1/4, near the daily high and for the week up 43 1/4 cents. The winter wheat futures market saw some routine profit-taking pressure heading into the weekend.
Cotton: July cotton futures rose 169 points to 79.82 cents, near the session high and hit a two-year high. For the week, July cotton was up 449 points. The cotton futures market bulls are keeping their pedal to the metal, with technical buying featured amid a strong price uptrend in place on the daily bar chart.
Cattle: June live cattle futures fell $0.275 to $247.35, nearer the session high after hitting a two-week low early on. For the week, June cattle were down $1.85. May feeder cattle futures lost $1.825 to $365.275, nearer the daily high and hit a nearly three-week low early on. For the week, May feeders were down $7.075. The live cattle and feeder cattle futures markets saw technically bearish weekly low closes today, which may set the table for follow-through, chart-based selling and weak long liquidation early next week.
Hogs: June lean hog futures fell $0.625 to $101.05, near mid-range, hit a four-month low and for the week down $2.675. The lean hog futures market today saw another technically bearish weekly low close, which sets the market up for follow-through chart-based selling pressure from the speculators early next week. The sell off in the cattle futures markets late this week also limited buying interest in hog futures.