OMAHA (DTN) -- As we near the close, July corn is up 1/2 cent, July soybeans are up 5 cents, and July Chicago wheat is up 1/4 cent. Friday's gains are not necessarily bullish, but at least they are giving prices a break after a rough week of selling -- especially in winter wheat. Among grains and oilseeds, November soybeans are doing the best Friday, trading 6 1/4 cents higher with help from commercial buying. Similarly, December soybean meal is up $3.10. The U.S. dollar index is up 0.02, staying quiet ahead of Sunday's election in France.
Posted 11:50 --July corn is down 1/2 cent, July soybeans are up 1 1/4 cents, and July Chicago wheat is down 2 1/4 cents. With grains trending lower, this week's profit-taking is showing up as a slightly higher rebound for prices, but fundamental factors still lean bearish. Soy products are fairly quiet Friday with July meal up $1.50 and bean oil down 0.12. Argentina's Ag Ministry said its corn harvest was 25% complete and the soybean harvest was 21% complete -- both about a week behind their usual paces, but the seven-day forecast is mostly dry for better progress.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT T
Posted 09:47 -- May corn is down 2 3/4 cents, May soybeans are down 1/2 cent, and May Chicago wheat is down 5 3/4 cents. Grains continue to sag lower under the weight of mostly favorable weather conditions here and in South America. Even though corn planting remains a concern, May corn is close to breaking its March low of $3.54 1/4 with expectations that acres will likely eventually get planted. Wheat continues to spiral lower with no major crop threats to argue otherwise.
Posted 08:35 -- After the 8:30 open, May corn is down 1/4 cent, May soybeans are up 2 1/4 cents, and May Chicago wheat is down 2 3/4 cents. Soybeans are starting a little higher with help from USDA's news that 5.4 million bushels (146,000 mt) of U.S. soybeans were sold to unknown destinations for 2016-17. Wheat prices remain in a slump, extending Thursday's new lows. A mix of heavy rain and severe weather around Oklahoma and southern Missouri is expected to move eastward the rest of Friday.Livestock
Posted 11:39 -- April cattle are down 0.12 and June cattle are down 0.07, in quieter trade at the end of the week. USDA showed choice boxed beef prices up 1.97 early Friday at 217.69 while selects were up 0.49. May feeder cattle are down 0.42. June hogs are down 0.52 and August hogs are down 0.60, still making new lows and ignoring USDA's higher pork carcass quote of 75.50, up 0.91 with 147.26 loads. Hams led Friday morning's gains, quoted up 4.85.
Posted 10:56 -- April cattle are up 0.15 and June cattle are up 0.30, keeping their bullish tone after this week's higher cash sales. Friday afternoon's on-feed report is expected to show inventory steady with a 7.5% increase in placements. May feeder cattle are up 0.07. June hogs are down 0.55 and August hogs are down 0.62, signs of more noncommercial liquidation on Friday with few willing to catch the falling knife of this week's prices.
Posted 09:16 -- April cattle are up $0.27 and June cattle are up $0.45, still supported by this week's higher cash sales which are likely about done for the week and have encouraged a third consecutive week of higher futures prices. May feeder cattle are up $0.25. In hogs, the trend stays clearly bearish with prices finding new five-month lows this week. Early Friday, June hogs are up $0.05 and August hogs are down $0.05. Dow Jones projected Friday's cattle slaughter at 111,000, down from 111,488 a year ago. Hog slaughter is expected at 438,000, up from 419,189 a year ago.
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.