Corn: July corn futures closed 3 cents lower at $4.44, marking a 16 cent loss on the week and negating last week’s gain. After an impressive week last week, corn bulls struggled to find their footing this week as prices closed over the past three sessions.
Soybeans: July soybeans fell 10 cents to $10.41 3/4, and gave up 18 1/2 cents on the week. Soybeans gapped lower in overnight trade, pressured by the 10- and 20-day moving averages as well as a hefty drop in soyoil futures.
Wheat: July SRW wheat futures closed steady at $5.34 and near mid-range. For the week, July SRW fell 8 1/2 cents. July HRW wheat futures rose 1 1/2 cents to $5.33 1/4, near mid-range and for the week down 5 1/2 cents. July Spring wheat futures rose a dime to $6.25 1/2, and gained 19 cents on the week. The winter wheat market bulls were able to stabilize prices late this week, after sharp sell offs on Tuesday, to start the holiday-shortened trading week.
Cotton: July cotton rose 22 points to 65.06 cents, but ended the week down 105 points. Cotton futures posted light corrective gains to end the week, though strong technical pressure and lacking outside market support curbed the upside.
Cattle: June live cattle fell 5 cents to $215.475, nearer the session low after hitting a more-than-two-week high early on. For the week, June live cattle fell 32 1/2 cents. August feeder cattle fell $1.10 to $298.825 and nearer the daily low after hitting a more-than-two-week high early on. On the week, August feeders fell $1.55. The cattle futures market bulls still had a decent week after starting the holiday-shortened week with solid losses.
Hogs: June lean hog futures closed $1.30 higher at $101.325, marking a $3.025 gain on the week. Hog futures ended the month on a high note, with June futures closing at the highest mark in over a month.