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July 28, 2025
In the News
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 WEEKLY COMMODITY HIGHLIGHTS
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | -0.0700 | 3.9950 | 3.9450 |
| Soybeans | -0.2900 | 9.9875 | 10.7750 |
| Wheat | -0.0800 | 5.3825 | 5.2350 |
| Cattle | +2.925 | 226.475 | 188.575 |
| Hogs | +2.250 | 108.70 | 93.475 |
| Cotton | -0.11 | 67.01 | 66.07 |
| Milk | -0.12 | 17.33 | 19.83 |
| Crude Oil | -0.89 | 65.16 | 77.16 |
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Growing expectations for big U.S. crops continued to weigh on the grain and oilseeds complex. Crop ratings for corn remain unusually high for this time of year, with few trouble spots around the Midwest and continued favorable weather in the forecast, including cooler temperatures in early August. There are some concerns about reports of "tassel wrap" across the Corn Belt, but that is likely to have isolated crop impacts rather than becoming a drag on the national yield. Wheat stayed under pressure thanks to the weakness in corn, lackluster demand and the lack of a bullish crop story. The cotton market continues to lack direction, stuck in a price range that is not attractive to producers. Rice futures finished higher each of the last four days of the week. Grain and oilseed traders kept their eyes on headlines about U.S. trade. The main news last week was a deal with Japan, which include significant purchases of U.S. ag products. President Trump singled out rice in particular, although the increase in purchases of U.S. rice is unlikely to be dramatic. Grain traders are hoping for a breakthrough in talks with China.
In the livestock complex, the long running bull market in live cattle and feeder cattle futures rolled on, with contracts in both markets hitting new highs on support from strong cash trade amid tight U.S. supplies. Futures rose further despite continued weakness in wholesale beef prices and sharply negative packer operating margins. U.S. trade deals and stock market strength likely added some price support along with President Trump's tariff threats against Brazil, which could reduce imports, further exacerbating supply tightness. Feeder cattle futures continued to find strong support from the suspension of imports from Mexico. Lean hog futures price action was choppy, but futures were underpinned by strength in cash hog and wholesale pork prices.
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