Corn: December corn futures rose 6 3/4 cents to $4.27 3/4, nearer the daily high and hit a two-week high. For the week, December corn rose 15 1/2 cents. The corn market bulls came back to life this week, posting a technically bullish key reversal up on Monday and finishing out the week by producing a technically bullish weekly high close on Friday.
Soybeans: August soybeans rose 6 1/4 cents to $10.27 3/4 and notched a 23 1/2-cent weekly gain. August meal rose $5.30 to $274.00 and gained $3.70 on the week after marking a contract low early in the week. August soyoil fell 40 points to 55.82 cents but scored a week-over-week gain of 207 points. Soybeans forged gains for a third straight session, with gains looking a little different at the end of the week as soyoil eased and meal futures showed solid short-covering strength.
Wheat: December SRW wheat futures rose 12 3/4 cents to $5.67, near the session high and for the week up 1 1/2 cents. December HRW wheat futures gained 11 1/2 cents to $5.48 1/4 and up 3 1/4 cents on the week. December spring wheat gained 3/4 cent to $6.16 1/2, but was down 17 cents on the week. Wheat futures were generally bearish early this week due to a lack of weather concerns, although winter wheat was able to claw back those losses with strong gains in price today due to short covering and price pressure in the other major grains.
Cotton: December cotton fell 12 points to 68.68 cents and marked 126-point weekly gain. After a respectable week, cotton futures paused as technical pressure continued to stem from the late-June high, though solid technical support limited seller interest, as did support from a weaker U.S. dollar.
Cattle: August live cattle futures fell 12 1/2 cents to $223.55, near mid-range and hit a contract/record high early on. For the week, August cattle rose $1.35. August feeder cattle futures lost $1.00 to $324.00, near mid-range and on the week down $1.325. Price action in the cattle futures markets has turned choppy and mostly sideways recently, which is not bearish and slightly favors the bulls.
Hogs: August lean hog futures rose 65 cents to $106.475, near the session high and on the week up $1.80. The lean hog futures market bulls had a good week, including a technically bullish weekly high close on Friday.