Corn: March corn futures fell 1/2 cent to $4.44, near the session low. The corn futures market backed off a bit late today after holding modest gains for much of the session.
Soybeans: March soybeans fell 5 3/4 cents to $10.56 1/4 and near the daily low. March soybean meal lost 40 cents to $299.50, near mid-range. March soybean oil fell 47 points to 49.40 cents, near the daily low and hit a three-week high early on. The soybean complex futures today saw corrective pullbacks after Monday’s gains.
Wheat: March SRW fell 2 cents to $5.10 1/2, near the daily low. March HRW gained 3/4 cent to $5.21 1/2, nearer the daily low. March spring wheat futures fell 4 cents to $5.67 1/4. The winter wheat futures markets bulls faded in late trading day, with HRW losing decent earlier gains.
Cotton: March cotton rose 41 points to 65.06 cents, near mid-range and hit a seven-week high early on. Cotton futures today saw more short covering and perceived bargain hunting as the bulls are gaining some technical momentum.
Cattle: February live cattle rose 75 cents to $236.625, near mid-range and closed at hit a 10-week high close. March feeder cattle gained $3.45 to $359.025, near the session high and hit a 10-week high. The cattle futures markets today saw feeders take the lead amid the New World Screwworm situation in Mexico that continues to keep Mexican cattle out of the U.S.
Hogs: February lean hog futures fell 47 1/2 cents to $85.675, near mid-range. Lean hog futures today saw some mild profit taking after prices Monday hit a 2.5-month high.