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June 23, 2025
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.1750 | 4.2875 | 4.3500 |
| Soybeans | -0.0175 | 10.68 | 11.6050 |
| Wheat | +0.2400 | 5.6775 | 5.6150 |
| Cattle | -2.075 | 223.025 | 187.60 |
| Hogs | +3.30 | 112.775 | 92.05 |
| Cotton | -1.32 | 64.04 | 68.19 |
| Milk | -0.08 | 18.67 | 19.91 |
| Crude Oil | +1.95 | 74.93 | 80.73 |
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Corn and soybean futures ended the week on the defensive, as ample rains in much of the Corn Belt offset worries about excessive heat. While temperatures have been well above normal across most of the Midwest, a trend that is expected to continue, soil moisture levels are mostly good and there is no sign of drought yet as traders look ahead to the July forecast. Soybeans made a five-week high on Friday but then retreated, posting a bearish outside day lower. That market has been underpinned by EPA's recent bullish announcement on biomass-based diesel mandates for the next couple of years. Large Brazilian crops weigh on corn and soybean prices. Wheat was underpinned by excessive rains in parts of the southern Plains along with drought concerns in the Northern Plains into parts of Canada. The outbreak of war between Israel and Iran, which threatened to cause a broader regional conflict, also may have provided some support for wheat prices. Crude oil prices rocketed higher to start the week, but ran out of steam, although investors will continue to watch for significant potential supply disruptions, as the U.S. has gotten involved in recent days.
In the livestock complex, the sharp rally in lean hog futures slowed a bit during a short trading week as technically overbought market conditions, geopolitical concerns and cattle futures' weakness spurred some profit taking on long positions. But overall, the futures market held up well as cash hog and wholesale pork prices continued to strengthen amid seasonally light hog supplies and strong pork demand. Live cattle and feeder cattle futures lost ground for a second straight week. Losses were limited by futures' discounts to cash prices, but cash fed cattle prices weakened for the first time in a couple of months.
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