Grains:
March corn closed up 1 3/4 cents and May corn was up 3 1/2 cents. March soybeans closed down 3 1/2 cents and May soybeans were down 2 3/4 cents. March KC wheat closed up 6 3/4 cents, March Chicago wheat was up 14 cents, March MIAX Minneapolis wheat was up 4 3/4 cents.
Corn and soybean futures traded both sides of even on Friday, with routine trade interrupted at midmorning by reports the U.S. Supreme Court ruled against President Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA) to implement widespread "reciprocal" tariffs through the first year of his second term. While the initial minutes following the breaking story featured a sharp reversal from daily highs, grain futures settled down and eventually recovered through the session, with wheat futures remaining a bullish beacon throughout with another double-digit surge higher. The exact implications of the ruling will likely take weeks -- if not months -- to determine, but for Friday equity markets initially moved higher on the news, while the U.S. dollar softened.
Livestock:
The livestock complex was trading mixed into Friday's noon hour as the cattle contracts dipped slightly lower ahead of seeing the afternoon's Cattle on Feed report and upon not seeing any fed cash cattle trade by that time. The lean hog contracts continued to scale higher as traders were not currently up against any immediate fears of resistance pressure.