Corn: July corn futures closed 3 1/4 cents lower to $4.69, falling 16 1/2 cents on the week in the third consecutive weekly decline. Corn futures had a mixed tone to end the week, with old-crop ending the day lower and new-crop posting gains, a sharp break from the recent trend.
Soybeans: July soybeans rose 7 3/4 cents to $10.58 but lost 1 1/4 cents on the week. July soymeal closed $2.60 higher at $296.90, but marked a $1.60 weekly loss. July soyoil fell 27 points to 49.43 cents but lost 28 points on the week. Soybeans recovered some more early-week losses as bulls remain in the driver’s seat.
Wheat: July SRW wheat futures rose 12 cents to $5.43, nearer the session high and on the week down 2 cents. July HRW wheat rose 13 3/4 cents to $5.41 1/4, nearer the daily high and for the week down 9 3/4 cents. July spring wheat futures settled 15 1/2 cents higher at , marking a 4 3/4 cent rise on the week. The winter wheat futures markets finished the week with a short-covering bounce that did produce technically bullish weekly high closes in the July contracts.
Cotton: July cotton surged 275 points to 68.41 cents, but still marked a 39-point loss on the week. Cotton futures made a solid comeback to end the week, recapturing a large portion of a recent string of losses, bolstered by a weaker U.S. dollar and firming equities.
Cattle: June live cattle futures rose $1.45 to $211.10, nearer the daily high and hit a contract high. For the week, June cattle rose $2.85. August feeder cattle futures gained $2.45 to $296.90 and hit a contract high. On the week, August feeders gained $2.60. Still-solid cash cattle and beef market fundamentals are fueling the record-setting bull runs.
Hogs: June lean hog futures closed $1.175 higher at $99.35, though still marked a $1.80 loss on the week. Lean hog futures broke higher mid-morning after consolidating the past couple of sessions, driven by resurgent strength in pork cutout.