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July 14, 2025
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.2850 | 4.3000 | 4.0000 |
| Soybeans | -0.5225 | 10.0400 | 11.3450 |
| Wheat | -0.0700 | 5.4075 | 5.3800 |
| Cattle | +8.0500 | 222.200 | 182.375 |
| Hogs | -1.250 | 106.725 | 88.70 |
| Cotton | +0.64 | 66.20 | 68.92 |
| Milk | +0.00 | 17.37 | 19.76 |
| Crude Oil | +1.45 | 68.45 | 82.21 |
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Grain and oilseed futures were mostly lower on the week, pressured by favorable Midwest weather and growing expectations for the size of the U.S. corn crop. Corn made new contract lows, as Friday's USDA Supply and Demand report, despite a lower U.S. carryout estimate, failed to inspire buying. As warm weather with ample rains continue, yield expectations for many are rising into the mid or even upper 180s per bushel. Soybeans had additional pressure from trade concerns, as relations between the U.S. and China continue to be strained and export demand continues to shift to Brazil. USDA did raise its soybean crush estimate on Friday, saying the forecast assumes EPA's proposed rule for RFS blending mandates for 2026 and 2027 are adopted and also considers additional policy measures including tax cuts. USDA is now forecasting an increase of 120 million bushels or 5% in the U.S. crush next year. Wheat remained under pressure from the weakness in corn and U.S. harvest pressure. Cotton was modestly higher. Crude oil futures gained despite a larger-than-expected production increase announced by OPEC.
In the livestock complex, cattle market volatility has been driven by tight U.S. feeder cattle supplies, shifting USDA policy on cattle imports from Mexico, seasonal weakness in wholesale beef prices and uncertainty about the economic impact of Trump tariffs. Despite the uncertainty, cattle futures hit new contract and all-time highs late in the week. Plains cash fed cattle prices surged late in the week, with trade up $4 to $5 from a week earlier. Lean hog futures spent much of the week consolidating, but clearly appear to have established significant highs in mid-June. Futures broke out to the downside of their consolidation ranges on Friday under pressure from expectations for seasonal weakness in pork demand and seasonal increases in slaughter levels. Front-end hog futures have now posted three straight lower weekly closes.
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