By: NATHAN STUEDLE
GRAINS:
September corn closed up 3 1/4 cents and December corn was up 3 1/4 cents. August soybeans closed down 1 1/2 cents and November soybeans were up 1 1/2 cents. September KC wheat closed up 5 cents, September Chicago wheat was up 1 cent, September Minneapolis wheat was down 2 1/2 cents.
Row crops traded with little conviction and low volumes behind the markets for Thursday. Export data for last week offered few new insights, although a USDA reporting error which mistakenly gave China credit for a 2025-26 corn purchase briefly caused a stir before correction within the hour. Overall, weather remains the feature of the trade, with few changes on that front with the vast majority of the U.S. grain belt still expecting good precipitation coverage over the next 15 days, and the above-average temperatures expected to ease beginning next week as well. Outside markets were mixed for Thursday with equities mixed, supported by recent trade optimism but left with an uneasy feeling on reports that President Trump plans to visit the Federal Reserve. Energy markets were mixed with NYMEX crude oil attempting a recovery from an 8-day losing streak.
LIVESTOCK:
The live cattle complex rounded out the day lower as traders merely sat on their hands, waiting for time to pass by and hoping that they'd see some support from the market's fed cash cattle trade. August live cattle closed $1.22 lower at $225.80, October live cattle closed $1.35 lower at $222.15 and December live cattle closed $1.25 lower at $222.65. Bids were offered in both regions throughout the day, but as feedlot managers waited for packers to up their bids, time slipped by, and very few cattle traded throughout the day. There was just a handful of cattle traded in the South at $231, which is $1.00 higher than last week's weighted average.
The feeder cattle complex also closed lower as traders were sheepish to push the market any higher following the big gains seen earlier in the week. But today's move wasn't a choice made because of poor demand in the countryside, but rather because of skepticism from the futures complex as traders worry about over-extending the market. August feeders closed $2.62 lower at $328.90, September feeders closed $2.25 lower at $329.65 and October feeders closed $2.30 lower at $328.35.
The lean hog complex chopped merely sideways throughout the day as traders want to advance the contracts but didn't quite see enough fundamental support to justify doing so. August lean hogs closed $0.27 lower at $108.20, October lean hogs closed $0.20 higher at $91.10 and December lean hogs closed $0.35 higher at $82.92. It was impressive that pork cutout values closed higher at all, with the rib alone being down over $6.00.