Wheat Futures Bounce Back

Wheat Futures Bounce Back
Hog futures ended slightly lower Friday as traders booked profits on Thursday's rally. February hogs slid 4 to 86.67, April hogs fell 22 to 91.57.
U.S. live-cattle futures carved out new all-time record highs into the end of the session Friday, boosted by expectations for cattle numbers to remain extremely tight in the coming months as ranchers work to rebuild herds thinned during years of drought. 
February live-cattle advanced 67 to $136, April cattle picked up 77 to $136.  Feeder-cattle futures also rose, the January contract climbing 62 to $167.
U.S. soybean futures fell Friday, pressured by favorable weather for growers in Brazil and Argentina. Corn futures slipped to a one-month low, hurt by the weakness in soybean futures and continued concerns about elevated U.S. supplies, 
Wheat futures rose, bouncing back somewhat from fresh 19-month lows reached this week.
January Soybeans were down 3 3/4 at $12.83, March corn was down 1 1/4 at $4.19, March wheat in Chicago gained 8 ¾ to $6.05, and March KC wheat gained 11 ¼ to $6.42. futures eased Friday as thin trading left prices to drift 
lower after the market hit near three-month highs earlier this week. March cotton fell 110 to 82.94, and the May contract fell 109 to 82.93.
Gold and silver futures extended their march higher on Friday as anticipation that two widely watched commodity indexes will drive more money to gold and silver buoyed prices of the precious metals.  
February Gold rose $13.40 to $1,238.60, March silver closed at $20.21, up 8.3 cent
Oil futures retreated Friday as market watchers looked past an unexpected drawdown in crude-oil supplies and focused on reduced demand for petroleum products. 
February crude dropped $1.48 to $93.96 a barrel, February gasoline slid 4.62 cents to $2.64 a gallon, February distillates fell 4.73 cents to $2.93 a gallon.
Natural gas futures eased Friday as a smaller-than-expected decline in U.S. inventories raised doubts about the health of demand for the heating fuel. 
February Natural gas fell 1.7 cents to $4.30.
On Wall Street, stocks ended a volatile session mostly flat on Friday as investors digested comments from Federal Reserve officials that raised questions about
how quickly the central bank will end its stimulus program. 
The Dow gained 28 to finish the week at 16,469, the Nasdaq closed at 4,131, down 11 and the S&P 500 fell a fraction to 1,831.


A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.