After the Bell | April 8, 2024
Corn: May corn futures rallied 1 1/4 cents to $4.35 1/2, though traded on both sides of unchanged throughout the session. Corn futures traded on both sides of unchanged before ultimately posting mild gains.
Soybeans: May soybeans closed down 3 1/2 cents at $11.81 1/2 and near the session low. May soybean meal closed up $2.90 at $336.00 and near mid-range. May bean oil fell 99 points at 47.90 cents and near the session low. The soybean market languished again today in its choppy trading range.
Wheat: May SRW futures closed 1 1/2 cents lower to $5.64 3/4 despite trading as high as $5.73 3/4. May HRW futures rallied 3 cents to $5.85 1/4, settling near the mid-point of today’s range. May HRS futures rose 2 1/4 cents to $6.50 1/4. Wheat futures closed mixed on the session despite posting big overnight gains.
Cotton: May cotton closed up 40 points at 86.65 cents today and nearer the session low. Prices hit a two-month low early on today. The cotton futures market today saw some short covering and a corrective bounce from recent strong selling pressure.
Cattle: June live cattle closed up $1.275 at $173.325 and nearer the session high. May feeder cattle fell $1.00 to $237.175 and nearer the session low. May feeders hit a three-month low today. The live cattle futures market saw short covering today after prices dropped to a 2.5-month low last Friday.
Hogs: June lean hog futures rose 2.5 cents to $107.925 and scored a fresh contract high early on. Expiring April futures rose 42.5 cents to $89.75. Lean hog futures saw modest profit-taking following Friday’s surge higher for most of the session, though saw buying into the close, marking a fresh contract-high close.
