Good afternoon and welcome to Markets Desk, your end-of-week wrap from the trading floor.
Corn futures clawed back from steep early losses on Friday, closing steady to fractionally higher after an initial selloff. Traders found reason to hold on as the White House signaled that details from US-China trade discussions would be released Monday, giving bulls just enough to work with heading into the weekend.
That same anticipation lifted soybeans, which rallied nearly twenty cents off session lows before settling just fractionally lower in the nearbys. The national average cash bean price edged up a penny to twelve dollars and sixty-one cents. Soymeal remained under modest pressure while soy oil found a bit of footing, rounding out a cautiously stabilizing complex.
Lean hog futures told a different story, fading lower across most contracts Friday after Thursday's Hogs and Pigs report from the USDA gave traders something to digest. Contracts finished seventeen to ninety-seven cents lower on the session, though October managed a twelve-cent gain on the week. The national base hog price came in at seventy-eight dollars and sixty-eight cents, down twenty-seven cents from the prior day.
That's the tape. Markets Desk, signing off the floor.
