6/12/26 Weekly Market Recap

Corn: Down again for the week. July futures settled at $4.12 ¾ .The June WASDE report was uneventful, leaving the balance sheet essentially unchanged, but there were still some sell offs on Thursday. The December contract closed at $4.40 ¾ . 

Soybeans: Also weaker, hitting lows on the week. July futures closed at $11.13 ½ . Pressure from South American supplies, U.S. weather, and export demand concerns, though soybean oil showed some relative resilience at times.There was a slight rebound mid week, but the sell off continued. The November contract closed at $11.32 ¾ . 

Wheat: Mixed overall. Chicago wheat July closed at $5.85 ¼  and KC Wheat closed at $6.34 ½  for the July contract. New crop December closed at $6.12 ¾ for Chicago wheat and $6.54 on KC wheat.

Live Cattle: Positive gains. August futures closed stronger at $241.175 after having a big red day on Monday. Cash bids and technical rebounds supported gains despite some headline volatility.

Feeder Cattle: Also had positive gains. August closed at $357.425 after being red at the beginning of the week. There is a lot of uneasiness around the New World Screwworm which is a contributor to the price action this week.

Cotton: Fell off earlier in the week, but made some recovery and closed the week at $73.02. 

Crude Oil: Volatile and generally softer at times. July closed at $83.74, with daily swings tied to Iran-related news, supply expectations, and ceasefire talks. 

S&P 500: Showed resilience with a weekly gain. It fell mid-week, but rebounded and closed at  7436 amid rotation, tech/semiconductor moves, and macro/geopolitical developments. The big news this week was the SpaceX IPO on Friday, which appears to be successful.