There were surprisingly only modest trading volumes in this last trading session before a three-day holiday. There was no rush to escape positions. The livestock complex and soyoil closed lower, but the rest of the top trading ag commodities made gains on the day, but only cattle, soybeans, and soymeal saw losses on the week.  

All told, the trends look like this:

It was the fourth week in a row higher for HRS and HRW, and a sixth week higher for SRW. Corn has made gains in four of the past five weeks. Cattle have now traded lower for three weeks in a row, while hogs have made gains in each of those weeks.  Soyoil and soymeal have been up and down since the start of the new year. 

Deep cold will stress wheat and cattl...