By: NATHAN STUEDLE
GRAINS:
September corn closed down 5 cents and December corn was down 4 1/2 cents. September soybeans closed down 1 1/2 cents and November soybeans were down 1 1/4 cents. September KC wheat closed down 23 1/4 cents, September Chicago wheat was down 24 1/4 cents, September Minneapolis wheat was down 21 3/4 cents.
Grain futures ended the week mostly lower as improving weather forecasts continued to pressure the market. Corn and soybean futures remained under pressure with cooler temperatures and timely rainfall expected across much of the Midwest, easing concerns about crop stress during key reproductive stages. Wheat also finished lower as ample global supplies outweighed continued uncertainty surrounding Black Sea exports. Traders are now turning their attention to next week’s crop progress report and updated weather forecasts as August weather will play a critical role in determining final yield potential. Overall, the grain trade ended the week focused more on favorable growing conditions than on supply concerns.
LIVESTOCK:
Livestock futures closed mixed to end the week. Live cattle futures found support from expectations for steady to higher cash cattle trade and continued tight supplies, while feeder cattle also posted gains with lower feed costs providing additional support. Lean hog futures, however, finished lower as traders weighed ample pork supplies and softer export demand. Despite some day-to-day volatility, the cattle market continues to be supported by historically tight beef supplies, while hogs remain challenged by demand uncertainty. As the market heads into next week, traders will continue watching cash cattle trade, boxed beef values and export demand for additional direction.