Soybeans Struggle to Find Buyers
May soybeans slid to a new five-month low on moderate volume, as the market had trouble finding buyers to take the other side on Friday. Corn ended slightly lower and May Chicago wheat was a few cents higher, but all major grain contracts finished lower on the week.
Late-Week Bears Regroup to Smash Lean Hog Futures
Lean hog contracts closed sharply lower with triple-digit losses suffered by spot April through August. The cattle complex closed mixed but well below early session highs.
Corn and Soybeans Still Losing Ground; DDG Prices Lower
Soybeans and corn couldn't find their way to close higher Thursday even after good export sales reports.
April Federal Order Class I Price: $16.05
Class III milk contracts through July closed lower than a week ago despite all of the volatility experienced during the week. The three major reports released during the week had little to do with the volatility. Futures movements were the result of price movements of the underlying cash. Traders are ready and willing to buy the market due to the underlying idea of higher milk prices that are expected to come.
Ethanol Futures Post Firm Gains
Solid gains developed in both ethanol and RBOB gasoline markets at the end of the day Friday. This helped to spark increased buyer support in most futures contracts. Corn prices continue to erode lower, even though trade remains extremely weak.
DTN Poll: Farmers Locked in Fertilizer
The majority of farmers who responded to a recent DTN Poll said they pre-purchased their fertilizer needs several months ago.
Cotton Settles Mixed for Second Session
Old-crop contracts close higher for day but down for week. Mills added a board total of 803 lots to their unpriced on-call position.
Oilseeds Struggle to Find a Bottom
Soybeans ended 13 to 15 1/4 cents lower, canola ended $5.50 to $7.80/mt lower, corn finished 3/4 cents lower to 1/4 cent higher while spring wheat finished 4 1/2 cents to 5 cents lower.