Corn: December corn futures fell 4 1/4 cents to $4.12 1/4, near the daily low and hit another contract low. For the week, December corn lost 24 3/4 cents. A new contract low in December corn, along with the technically bearish weekly low close, sets up the market for more follow-through selling pressure early next week.
Soybeans: August soybeans fell 8 1/4 cents to $10.04 1/4 and saw the largest weekly loss since the week ended July 12, 2024, at 51 1/4 cents. August soymeal slid $1.10 to $270.30 and gave up $7.10 on the week, while August soyoil rose 26 points to 53.75 cents, but still marked an 80-cent weekly loss. Soybeans forged a fresh for-the-move low immediately after USDA’s late-morning supply and demand update, but quickly bounced from the low, which formed below the psychological $10.00 area.
Wheat: December SRW wheat futures fell 9 1/2 cents to $5.65 1/2, near the session low and for the week down 12 3/4 cents. December HRW wheat futures lost 10 cents to $5.48 1/4 and gave up 12 1/2 cents on the week. December spring wheat fell 18 cents to $6.1 3/4, and down 33 1/4 cents on the week. Wheat futures saw sharp declines across the board after the monthly crop production report showed an increased production forecast for the U.S.
Cotton: December cotton fell 31 points to 67.42 cents, and ended the week down 107 points. Cotton futures favored the downside but held the recent sideways pattern amid consolidation.
Cattle: August live cattle futures rose $2.975 to $222.20 and hit a contract/record high. For the week, August live cattle gained $8.15. August feeder cattle futures closed up $4.05 at $325.325, which is also a contract/record high. On the week, August feeders rose $15.825. The record-setting bull-market runs in the cattle futures markets continue to roll on. Technical buying from the speculators was featured today, which is likely to result in some follow-through buying interest from the speculators early next week.
Hogs: August lean hog futures fell $1.55 to $104.675, near the daily low and hit a five-week low. For the week, August hogs lost $1.425. The technically bearish weekly low close Friday in August hogs sets the table for follow-through technical selling pressure from the speculators early next week, amid the deteriorating near-term technical posture for hog futures.