Corn: Futures contracts finished 1/4 to 1 1/4 cents higher and nearer their daily highs after some modest overnight/early morning selling pressure. Corn buyers stepped in to buy the early dip in futures prices, as strong export demand for U.S. corn continues.
Soybeans: Soybean futures faced pressure overnight, gapping lower on the open and pushing to a new low for the month in early trade. But not long into the start of the day trading session, buyers returned and helped the market to finish high-range and up 1 3/4 to 6 1/2 cents on the day, with new-crop leading gains. Soymeal faced pressure, while soyoil posted gains to start the week.
Wheat: Winter wheat futures also faced pressure overnight and early this morning, only to reverse course and finish the day with modest gains of roughly 1 to 2 cents. Spring wheat futures also got off to a lower start but finished 6 to 10 1/2 cents higher on the day. Followthrough selling was initially a weight on the winter wheat markets, but traders were encouraged by their ability to respect near-term levels of support.
Cotton: Futures contracts finished the trading day down 124 to 98 points in the nearby May and July contracts, respectively. December cotton was only down 3 points. Some normal profit-taking from recent gains was featured to start the trading week.
Hogs: Lean hog futures pushed lower again today, with futures settling 5 to 77 1/2 cents lower for the day, with spring and summer contracts leading losses. Big slaughter numbers paired with higher weight data continue to signal that spring marketings will be bigger than indicated by the latest Quarterly Hogs & Pigs Report.
Cattle: Live cattle contracts ended down $1.575 to $1.025 in the April and June contracts, respectively. April and June live cattle futures also closed at seven-week low closes today. Feeder futures were down 35 to 67 1/2 cents, with May feeders closing at its lowest level in seven weeks. The cattle market started the week on the defensive amid concerns about the potential for a global trade war impacting U.S. beef exports.