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Hogs: Afternoon Comments (Friday, February 05, 2016 20:44:02)

Lean hog futures closed mixed, ranging from 40 cents lower in the thin May contract to 32 1/2 cents higher in the October contract. The lead February contract posted a weekly loss of $1.00. Hog futures appear poised for a steady to firmer start for the week. Packer margins remain positive, although they've tightened somewhat from earlier wide levels. This will tend to keep packers active. Technical traders may start the week on the buy side as momentum indicators suggest futures have eased from their overbought condition.

Soybeans: Afternoon Comments (Friday, February 05, 2016 20:40:31)

Soybean futures ended the day 5 to 7 cents lower in the 2016 contracts, which was low-range for the day and week. March soybeans posted weekly losses of 14 3/4 cents to return to the bottom of the month-long consolidation range. Next week's soy complex focus will be on USDA's Supply & Demand Report. Traders expect only minor fine tuning to U.S. and global balance sheets, which if realized, would provide a muted price reaction and keep traders' focus on outside market influences and South American crops. Rains in the forecast for the weekend and into next week across Argentina are expected to be widespread and provide timely moisture.

Corn: Afternoon Comments (Friday, February 05, 2016 20:39:13)

Corn futures faced pressure for much of the day session and futures ended low-range with losses of 2 to 2 3/4 cents. The March contract lost about 6 cents on the week. To kick off next week, traders will gauge the coverage and rainfall amounts from a system that is expected to bring rain to dry areas of Argentina this weekend. These rains are needed to prevent crop damage. The other major focal point is USDA's Supply & Demand Report Tuesday. USDA is expected to raise corn carryover slightly and make just minor tweaks to its South American crop pegs.

Wheat: Afternoon Comments (Friday, February 05, 2016 20:41:27)

Wheat futures were the anchor in the grain markets this week, finishing the week on a sour note. March SRW wheat ended the week around 12 cents below last week's close, with March HRW posting steeper losses of around 18 cents. March HRS futures posted weekly losses of around 9 cents. Winter wheat futures led losses this week after beneficial precip covered much of the region. A very small percentage of the HRW wheat ground is now covered by abnormally dry conditions and should be drought-free by the time the crop comes out of dormancy. Traders will also be focused on USDA's February Supply & Demand Report next week

Cotton: Afternoon Comments (Friday, February 05, 2016 20:42:39)

Cotton futures finished narrowly mixed today. The March and May contracts finished slightly lower, while deferred contracts ended slightly higher. For the week, futures finished lower, extending their pullback from the December high. Bears have price momentum heading into next week, as March cotton futures are hovering just above the contract low posted in September. A drop to a new low could trigger fresh chart-based selling. The National Cotton Council's annual planting survey will be released over the weekend and should garner some market attention. The other fundamental focus next week will be USDA's Supply & Demand Report on Tuesday. is your source for ag news and information on crop pest identification, commodity and market prices, agricultural news & issues, and access to crop production management tools such as crop yield & planting calculators and herbicide, fungicide, and weed control information.