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At the market close, July corn was down 2¾¢ at $4.41¼ per bushel.
July soybeans were down 7½¢ at $10.60¾ per bushel.
Karl Setzer, partner with Consus Ag Consulting, said, “Collective trade was evident in [Friday’s] session, as futures were on both sides of unchanged during the session. Fresh news was light going into the weekend, as was trade volume following Thursday’s holiday.”
Setzer added weather and geopolitical developments were the market’s main drivers.
The wheat markets were also lower at the close. July CBOT wheat was down 7¢ at $5.83½ per bushel. September KC wheat dropped 7¾¢ at $5.78¾ per bushel. September Minneapolis wheat was down 2½¢ at $6.56¾ per bushel.
August live cattle were down $1.85 at $209.82 per hundredweight (cwt). August feeder cattle were $1.72 weaker at $302.45 per cwt. August lean hogs were up 45¢ at $112.45 per cwt.
Just before 3 p.m. CT, August crude oil was up 58¢ at $74.08 per barrel.
September S&P 500 futures were down 23 points. The September Dow futures dropped 28 points.
The September U.S. Dollar Index was down 133 points.
Published: 3:25 p.m. CT
Slow Trade Near Weekend: 9:34 a.m. CT
Just after 9:00 a.m. CT, July corn was unchanged at $4.44 per bushel.
July soybeans were down 1½¢ at $10.66¾ per bushel.
Karl Setzer, partner with Consus Ag Consulting, said: “The mixed tone of the market continued [Thursday] night with corn and soybeans favoring the upside and wheat showing moderate declines. Much of [Friday] morning’s trade is consolidation after a choppy week.” Setzer added not much has changed fundamentally. “Weather and geopolitical developments [are] primary factors in price discovery,” he said.
The wheat markets were lower starting off the day. July CBOT wheat was down 1½¢ at $5.89 per bushel. September KC wheat dropped 2¾¢ at $5.83¾ per bushel. September Minneapolis wheat was down ¾¢ at $6.60¾ per bushel.
August live cattle were up 70¢ at $212.37 per hundredweight (cwt). August feeder cattle were $1.07 higher at $305.25 per cwt. August lean hogs fell 30¢ at $111.70 per cwt.
August crude oil was down 12¢ at $73.38 per barrel.
September S&P 500 futures were up 11 points. September Dow futures jumped 105 points.
The September U.S. Dollar Index was down 133 points.
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