Corn: May corn fell 5 cents to $4.62, nearer the daily low and for the week down 3 1/2 cents. May corn futures today saw some more corrective selling pressure after good gains Wednesday. A firmer U.S. dollar index today and keener risk aversion in the general marketplace also helped to pressure corn today.
Soybeans: May soybeans fell 14 1/2 cents to $11.59 1/4, near the daily low and for the week down 2 cents. May soybean meal fell $6.80 to $315.30, near the session low and for the week down $12.70. May bean oil fell 61 points to 67.41 cents, nearer the daily low and for the week up 190 points. The soybean market today saw technical selling pressure as recent price action has formed a classic bear flag pattern on the daily bar charts for May and July futures.
Wheat: May SRW wheat closed steady at $6.05, near mid-range and for the week were up 9 3/4 cents. May HRW wheat gained 6 cents to $6.32 3/4, near mid-range and for the week up 26 1/2 cents. May spring wheat futures rose 3 1/4 cents to $6.48 1/4, nearer the daily high and for the week up 20 1/4 cents. The winter wheat futures markets bulls had a good week, overall. Price uptrends on the daily bar charts were restarted this week, which should continue to support some chart-based buying in the near term.
Cotton: May cotton futures rose 5 points to 69.46 cents, near mid-range after hitting a six-month high early on. For the week, May cotton was up 215 points. The cotton futures saw some mild profit-taking pressure today, but the bulls had a very good week, including restarting a price uptrend on the daily bar chart.
Cattle: April live cattle futures rose $3.40 to $238.50, near the daily high, hit a three-week high and for the week were up $4.45. May feeder cattle futures gained $8.075 to $359.825, near the daily high, hit a four-week high and for the week were up $13.45. The live cattle and feeder cattle futures markets finished the week strong, including technically bullish weekly high closes that suggest follow-through buying strength early next week.
Hogs: April lean hog futures fell $0.05 to $90.775, near mid-range and hit a 2.5-month low today. For the week, April hogs were down $0.50. The lean hog futures market spent much of this week consolidating as bulls are working to stabilize prices amid a near-term downtrend in place.