Corn: May corn rose 3 cents to $4.84 1/4, ending near mid-range. Corn futures firmed modestly at midweek, holding an inside range as bulls continue to show exhaustion.
Soybeans: July beans closed 3 3/4 cents higher to $10.50 1/4 and closed near mid-range. July meal climbed $3.2 to $304.2. July bean oil inched 16 points higher to 48.00 cents. Soybeans saw action on either side of unchanged before closing modestly higher on the day.
Wheat: May SRW wheat rose 5 3/4 cents to $5.47 3/4 and nearer the daily high. May HRW wheat gained a nickel to $5.58, nearer the daily high. The wheat futures markets today saw short covering and some perceived value buying.
Cotton: July cotton futures closed 25 points higher at 66.37 cents. Cotton futures posted gains for the second consecutive session, though prices continue to trade in Monday’s range.
Cattle: June live cattle rose $2.275 to $202.075, nearer the session high and hit a two-week high. May feeder cattle gained $1.875 to $284.40, nearer the session high and hit a two-week high. The cattle market bulls put their foot on the gas today and did some perceived value buying.
Hogs: June lean hogs rose $2.775 to $97.95, near the daily high and hit a three-week high. The lean hog futures market today saw short covering from the bears and perceived value buying from the bulls.