Corn: December corn futures fell 2 1/4 cents to $4.21 3/4, near mid-range and hit a one-week low. The corn market saw more profit-taking pressure today.
Soybeans: November soybeans fell 14 1/2 cents to $10.11, nearer the session low and hit a six-week low. December soybean meal fell $3.90 to $280.10, nearer the daily low and hit a seven-week low. December soybean oil fell 93 points to 49.69 cents, nearer the daily low and hit a three-month low. The soy complex futures melted down today, led by technical selling as the near-term chart postures for soybeans, meal and bean oil have significantly deteriorated just recently.
Wheat: December SRW wheat fell 11 3/4 cents to $5.10 3/4, near the session low and hit a contract low. December HRW lost 5 cents to $5.02 1/4, near mid-range and hit a contract low. December spring wheat futures fell 3 1/2 cents to $5.64. The winter wheat futures markets today saw their near-term price downtrends restarted, which further emboldened the speculative bears to play the short side.
Cotton: December cotton fell 7 points to 66.22 cents, nearer the daily low and hit a two-week low. The cotton futures market bulls have lost steam quickly after hitting a three-week high at mid-week last week.
Cattle: October live cattle rose $3.575 to $237.15, nearer the daily high and hit a three-week high. November feeder cattle rose $8.975 to $359.90, near the daily high and hit a three-week high. November feeders traded limit-up for a time today. Live and feeder cattle futures trading limits will be expanded Tuesday with the limit-up close in January feeders. The “never-say-die” cattle market bulls are once again showing good power, as cattle traders were reminded in Friday afternoon’s USDA Cattle-on-Feed Report that tight cattle supplies persist.
Hogs: October lean hogs rose 82 1/2 cents to $98.80, near the daily high and hit a contract high. The lean hog futures market was boosted today by strong gains in the cattle futures and a rebound in fresh pork prices.