Corn: July corn futures rose 3/4 cent to $4.80 3/4, near mid-range. The corn futures market saw follow-though buying early in the session following this week’s good price gains.
Soybeans: July soybeans rose 2 1/4 cents to $12.29, near mid-range and hit a two-month high. July soybean meal rose $10.10 to $338.50, near the daily high and hit a 5.5-month high. July soybean oil lost 104 points to 74.32 cents, near the daily low. The soybean market today saw follow-through buying interest from Tuesday’s gains.
Wheat: July SRW fell 3 1/2 cents to $6.75 1/2, nearer the daily high and hit a 1.5-year high for the contract. July HRW fell 6 1/2 cents to $7.24 3/4, near the daily low after hitting a nearly three-year high for the contract early on. September HRS fell 4 cents to $7.40 3/4. Not a bad day for the winter wheat bulls today, given Tuesday’s limit-up price moves.
Cotton: July cotton futures rose 49 points to 86.81 cents, nearer the daily low and hit a contract high early on. Cotton futures saw more technical buying featured today in this major bull run. U.S. stock indexes at record high and WTI crude oil above $100 a barrel are bullish elements for the cotton market.
Cattle: June live cattle rose $5.10 to $252.80, near the daily high. August feeder cattle rose $4.375 to $360.925, near the daily high and hit a six-week low early on. The cattle futures markets saw good corrective buying today following recent losses.
Hogs: June lean hog futures rose $2.45 to $100.875, nearer the daily high. The lean hog futures market saw short covering and perceived bargain hunting after hitting a multi-month low on Tuesday.