Corn: May corn rose 7 cents to $4.60 1/2, nearer the daily high, hit a nearly four-month high and for the week were up 12 cents. May corn futures today saw another technically bullish weekly high close, suggesting follow-through price strength early next week from the chart-based speculators.
Soybeans: May soybeans rose 21 1/2 cents to $12.00 3/4, nearer the session high and hit a two-year high. For the week, May beans rose 30 cents. May soybean meal rose $7.90 to $317.20, near the session high and for the week down $3.30. May bean oil rose 88 points to 66.58 cents, nearer the session high and hit yet another contract high. For the week May bean oil was up 473 points. The soybean complex today saw technical buying and was also supported by surging crude oil prices that today hit a two-year high above $90 a barrel.
Wheat: May SRW wheat rose 33 cents to $6.16 3/4, nearer the daily high, hit an eight-month high and for the week were up 25 1/4 cents. May HRW wheat rose 31 cents to $6.23 1/2, near the daily high, hit a nine-month high and on the week up 43 cents. May spring wheat futures rose 23 1/2 cents to $6.43, nearer the daily high and for the week were up 30 1/4 cents. The winter wheat futures markets soared today amid surging crude oil prices that hit a two-year high, a lower U.S. dollar index and on technical buying amid price uptrends in place on the daily bar charts.
Cotton: May cotton futures rose 16 points to 64.20 cents, near mid-range and for the week down 141 points. The cotton futures market saw tepid short covering today, with bulls disappointed cotton could not get any more support from surging grain futures prices and spiking crude oil prices.
Cattle: April live cattle futures fell $3.95 to $234.575, near the session low. For the week, April live cattle gained $2.35. March feeder cattle futures lost $6.975 to $355.625, near the daily low. For the week, March feeders were up 20 cents. The cattle futures markets saw heavy profit-taking pressure and weak long liquidation from the shorter-term futures traders today, amid keener risk appetite in the general marketplace to end the trading week, as the war in Iran continues.
Hogs: April lean hog futures fell 5 cents to $95.625, nearer the daily low and for the week down 10 cents. The lean hog futures market paused to end a choppy trading week.
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