Grain futures end the week on a high note. Friday, May 27, 2022

July corn was able to close up 11 cents on the day. The close was above the 50-day average, which is a good sign for the bulls. December corn settled the day up 11 on the day. Many of the corn contracts posted a higher high and higher low on the daily charts.

July soybeans gained on November today. July was up 6 while November was down 3. The July vs November spread is back over the $1.90 mark and within striking distance March 9 high at $2.04.

Wheat prices ended the week stronger. CBOT was up 13 cents. KC was up 9 cents, and spring wheat was up 12 cents. Traders are expecting some improvement for spring wheat planting in North Dakota, but the problems are still prevalent.

Livestock prices ended the week mostly lower. Feeder cattle were down 87 cents. Live cattle were down 27 cents, and lean hogs were down 90 cents to up 20 cents.

Crude oil prices ended the day over $1 higher, above the $115 mark. This puts the bull camp in a great spot to test the contract highs early next week when trading resumes.

July corn is up 14 cents while December corn is up 13 cents. July soybeans are up 9 cents while new crop November soybeans are up one cent. CBOT and spring wheat are up 18 while KC is up 11 cents.

Livestock futures have drifted lower at midday. Feeder cattle are down 70 cents. Live cattle are down 20 cents, and lean hog futures are down 70 cents.

Crude oil is up 50 cents at midday. Futures are trading around the $114.50 area. The bulls are hoping to hold ground in this price range to set the table for a strong start next week.

Stock futures are up 1% and 1.6% today. The charts are looking much better after a string of rough weeks for the bulls.

Corn futures are a dime higher. Soybean futures are quietly higher, and the wheat complex is 6 to 20 cents higher. A strong close today for many of the grain contracts ahead of the long weekend would surely help the charts improve for the bull camp.

Livestock futures are mixed this morning. Feeder cattle are down 35 cents, live cattle are up 20, and lean hog futures are steady to up 25 cents.

Crude oil prices are quietly higher this morning after falling just shy of the $115 mark. Although the bulls would love to make new contract highs today ahead of the long weekend, the daily chart did post a higher high and so far today has a higher low. The bullish trend remains intact for now.

The U.S. stock market futures have rebounded nicely this week after putting in what looks like a major low on the charts. The bulls should gain momentum if they can close above some of the key moving averages today.

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