Grains:
December corn closed up 11 1/4 cents per bushel at $4.83 1/4 and March closed up 11 1/4 cents per bushel at $4.99 and November soybeans closed up 10 1/4 cents at $11.92 1/2 and January soybeans were up 10 cents at $12.07 3/4. December KC wheat closed up 33 cents at $7.67 3/4, September Chicago wheat was up 22 cents at $6.74 3/4 and December MIAX wheat was up 0.12 cents at $7.0575.
With no end in sight for the ongoing war and reciprocal attacks on vessels and port grain terminals between Russia and Ukraine, wheat markets soared again Friday, led by Kansas City. News that Ukraine struck a Russian port in the Baltic Sea further exacerbated export woes for Russia. December corn futures rebounded from Thursday weakness after testing and surviving a challenge of key moving averages as corn demand remains stellar. Soybeans and products were mildly higher, feeling pressure from the bearish weather pattern, but gaining strength from rising export demand.
Livestock:
The live cattle complex was trading lower into Friday's noon hour as a lack of fundamental support, mixed with Thursday's announcement that Tyson Foods plans to close two beef plants and sell another, was weighing heavily on the market. without enough support from the live cattle contracts, the feeder cattle complex was also trading lower.
Although midday pork cutout values were higher, traders simply didn't see one day's worth of mild support from consumers as enough to justify trading the contracts higher at this point in the week. October lean hogs closed down $0.37 at $81.75, December lean hogs closed down $0.62 at $72.47 and February lean hogs closed down $0.47 at $75.77.