July 18, 2025 Week In Review
Corn Futures: This week, Chicago corn futures experienced a volatile week, hitting contract lows early in the week due to expectations of a large U.S. harvest. However, prices rebounded slightly by Friday, driven by bargain-buying and short-covering. Weather concerns and a newly announced trade deal with Indonesia provided some support, but overall, the market remained under pressure from anticipated large harvests.
Soybean Futures: Chicago soybean futures saw a recovery this week, climbing to their highest level in over a week, supported by technical buying and optimism from a $34 billion U.S.-Indonesia trade deal boosting export hopes. Despite a brief dip due to tariff concerns and favorable weather, the market rallied late in the week due to strong export sales data (29.5 million bushels) bolstered the market.
Wheat Futures: Chicago wheat futures faced downward pressure this week, continuing a slide that began on July 3. On Thursday, Chicago SRW wheat futures fell 7 1/4c, driven by technical selling and dominant Russian supplies keeping prices in check. Export sales of 26.1 million bushels were solid but below the prior week, contributing to a bearish sentiment amid ample global supply.
Cattle Futures: Live cattle futures in Chicago showed resilience this week, hitting new contract highs on Wednesday, supported by strong cash trade and a recovery from a discount to cash prices. However, Thursday saw some retreat due to profit-taking. Factors like the reopening of Mexican cattle imports and strong U.S. demand supported the bullish trend, despite potential tariff-related issues looming.
Hog Futures: Chicago lean hog futures posted gains this week. The market’s strength was partly attributed to technical buying, with no significant weather or supply disruptions noted as major drivers.
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