By: NATHAN STUEDLE
GRAINS:
September corn closed down 3 1/4 cents and December corn was down 3 1/4 cents. September soybeans closed down 3 3/4 cents and November soybeans were down 4 cents. September KC wheat closed up 5 1/4 cents, September Chicago wheat was up 2 3/4 cents, September Minneapolis wheat was up 6 1/2 cents.
Grain futures closed lower Thursday as favorable weather forecasts continued to pressure the market. Corn and soybean futures remained under pressure as traders focused on forecasts calling for timely rainfall and generally favorable growing conditions across much of the Midwest, easing concerns during key stages of crop development. Wheat also finished lower, weighed down by expectations of ample global supplies, although ongoing uncertainty surrounding Black Sea exports continued to provide underlying support. As the calendar turns to August, weather remains the dominant market influence, with traders closely watching crop conditions and yield potential heading into the critical finish of the growing season
LIVESTOCK:
Livestock futures finished mixed Thursday, with cattle finding support while lean hogs remained under pressure. Live cattle and feeder cattle futures posted gains as traders covered short positions and looked for steady cash cattle trade this week, despite continued weakness in boxed beef values. The market also continues to digest news that U.S. imports of Mexican cattle will gradually resume next month, although historically tight cattle supplies remain supportive of prices. Lean hog futures closed lower as traders weighed ample pork supplies and softer export demand. Overall, the livestock complex continues to balance strong long-term cattle fundamentals against near-term pressure from beef demand and uncertainty in the hog market.