Corn: December corn fell 20 1/2 cents to $4.79 3/4, nearer the daily low, hit a two-month low and for the week down 18 cents. The corn futures market got gut-punched by another surprisingly bearish USDA report today. The agency raised its U.S. corn crop estimate 234 million bu. from last month.
Soybeans: November soybeans rose 4 1/2 cents to $12.92, nearer the daily high and hit a six-week low early on. For the week, November beans were up 13 3/4 cents. December soybean meal rose $8.00 to $356.60, near the daily high and for the week up $18.10. December bean oil rose 10 points to 68.02 cents, near mid-range and for the week down 60 points. The soybean and meal futures markets today saw late-session rallies that took prices from below unchanged to higher and near their daily highs. USDA today raised its U.S. soybean crop estimate 27 million bu. from last month, at a record high, and slightly above market expectations.
Wheat: December SRW wheat fell 12 1/4 cents to $6.71, nearer the session low, hit a two-month low and for the week down 12 cents. December HRW wheat lost 17 cents to $7.19 1/4, nearer the session low, hit a two-month low and for the week down 16 cents. December spring wheat futures fell 10 3/4 cents to $6.95 1/4, nearer the daily low and for the week down 2 3/4 cents. The winter wheat futures markets saw USDA today forecast U.S. wheat carryover for 2026-27 at 740 million bu., up 23 million bu. from last month and 19 million bu. above the average pre-report trade estimate.
Cotton: December cotton futures rose 60 points to 80.54 cents, near mid-range and for the week up 166 points. The cotton futures market today saw USDA increase its U.S. cotton crop estimate by 241,000 bales from last month. The yield was raised 14 lbs. to 790 lbs. per acre.
Cattle: December live cattle futures rose $3.50 to $227.05, near the session high, hit a two-month high and for the week up $5.575. November feeder cattle futures gained $7.075 to $341.95, near the session high, hit a nearly three-month high and for the week up $10.80. The cattle futures markets saw serious technical buying kick in to end the trading week, as the chart-based specs know the near-term price uptrends are the bulls’ friends in both markets.
Hogs: December lean hog futures fell $0.775 to $67.825, nearer the daily low, hit a contract low and for the week down $2.30. The hog futures market saw technical selling pressure today amid firmly bearish charts, including today’s bearish weekly low close in December futures. Futures prices remain trapped in a downtrend on the daily bar chart.