Chicago Board of Trade corn futures set contract lows and soybean futures sagged on Friday on expectations that beneficial weather for U.S. crops will lead to bumper harvests, analysts said.
Chicago Mercantile Exchange feeder cattle futures extended gains to record highs on Wednesday while live cattle futures set a contract high before pulling back.
Chicago Board of Trade corn futures extended losses on Tuesday to approach a 2025 low as improved U.S. crop ratings and forecasts for more benign weather fueled expectations for a bumper harvest.
U.S. corn and soybean futures firmed on Thursday on short covering and positioning ahead of the long U.S. Independence Day holiday weekend and a speech by President Donald Trump in farm-state Iowa later on Thursday.
Chicago Mercantile Exchange lean hog futures fell on Thursday on lower cash market prices, while cattle futures posted modest gains despite lower beef values as tight supplies continue to underpin the market, analysts said.
Chicago cattle futures rebounded on Wednesday after dropping on Tuesday over news the U.S. Department of Agriculture would gradually reopen borders to Mexican cattle imports.
U.S. grain and soybean futures rose on Wednesday in a bargain-buying and technical advance after recent declines and ahead of the Independence Day holiday weekend, with U.S. markets closed on Friday.