Corn: July corn fell 4 cents to $4.47, ending nearer the session low. Corn futures were plagued by bear-spreaders for the second straight session, while a retreat in crude outweighed a sizable decline in the U.S. dollar.
Soybeans: July soybeans climbed 3 1/4 cents to $10.51 3/4 and closed nearer session highs, posting solid gains over new-crop futures. July meal rallied $2.70 to $296.40, near session highs. July bean oil slid 54 points to 48.39 cents. Soybeans closed modestly higher on the day following courts striking down ‘Liberation Day’ tariffs.
Wheat: July SRW wheat rose 3 3/4 cents to $5.34, near the session high. July HRW wheat rose 6 1/2 cents to $5.31 3/4, near the daily high. July spring wheat futures surged 12 1/4 cents to $6.15 1/2. The winter wheat futures markets today saw some tepid short covering following recent selling pressure.
Cotton: July cotton slid 30 points to 65.03 cents and closed near mid-range. Cotton futures saw selling pressure for the third consecutive session and traded at the lowest level in nearly two months.
Cattle: June live cattle rose $1.60 to $215.525, near the daily high. August feeder cattle rose $4.30 to $299.925 and near the daily high. The cattle futures markets bulls are once again showing resilience following significant price setbacks.
Hogs: June lean hog futures closed a quarter lower at $100.025, near mid-range. Hog futures opened lower this morning but saw a bounce later in the session as strengthening cash fundamentals continue to support futures.