By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain markets finished mostly higher Friday, led by corn, while the wheat markets were mixed to lower. September corn gained 5 cents to $4.83¾, with December also up 5 cents at $5.08¼. Corn continues to find support from concerns over yield potential following this week’s Pro Farmer Crop Tour.
Soybeans also finished on the plus side. September beans gained 4¼ cents to $12.25, while November added 3 cents to $12.39¼. Soybean meal was about $2 higher. The market received some demand support after USDA reported another sizable round of new-crop soybean sales to China and unknown destinations.
Wheat was the weak spot. September Chicago wheat slipped 1¼ cents to $6.81¼, while September Kansas City hard red wheat dropped 6 cents to $7.56¼.
Overall, it was another supportive session for corn and soybeans, while wheat struggled to participate in the rally.
LIVESTOCK MARKET SUMMARY
Livestock futures were mixed Friday, with cattle recovering substantially from sharp early-session losses while lean hogs traded higher.
August live cattle finished 30 cents lower at $223.05, while October slipped 7½ cents to $217.92½. Deferred live cattle contracts turned higher, with gains reaching better than a dollar in the back months.
Feeder cattle also recovered from heavy early pressure. August feeders finished 55 cents lower at $336.35, but September gained a dime and October added 95 cents to $323.65. Cattle had been sharply lower early after President Trump announced a 90-day tariff exemption allowing up to 300,000 metric tons of additional ground-beef imports into the United States.
Lean hogs finished higher across the board. October gained 65 cents to $80.87½, December added 77½ cents to $71.52½, with most other contracts gaining roughly 50 to 60 cents.
So, a volatile day in the cattle complex, but a significant recovery from the morning lows, while hogs finished with solid gains.