Corn: May corn futures rose 3/4 cent to $4.46 1/2, nearer the daily low. The corn futures market today saw buying interest limited by elevated risk aversion in the general marketplace, a strong rally in the U.S. dollar index this week and big sell-offs in the gold and silver markets today.
Soybeans: May soybeans rose 6 1/2 cents to $11.70 1/2, near mid-range. May soybean meal gained $1.80 to $314.70, near mid-range. May soybean oil rose 8 points to 62.82, nearer the daily low. The soybean complex futures markets early on today saw buying interest squelched by keener risk aversion in the general marketplace, as well as this week’s strong rally in the U.S. dollar index that today to a six-week high.
Wheat: May SRW fell 3 1/4 cents to $5.74, near mid-range. May HRW rose 3 1/2 cents to $5.78 1/4, near mid-range. May spring wheat futures rose 3 1/4 cents to $6.13 1/4, nearer the daily high. Elevated risk aversion in the general marketplace today was also a negative for the wheat markets, as were big sell-offs in the gold and silver markets today.
Cotton: May cotton lost 55 points to 64.04 cents, nearer the daily low and hit a two-week low. The cotton futures market today saw technical selling pressure as a price uptrend on the daily bar chart has been negated.
Cattle: April live cattle rose $1.025 to $234.125, near the daily high. March feeder cattle fell 7 1/2 cents to $357.20, nearer the session high. The live cattle futures markets today saw corrective buying, including short covering from the shorter-term speculative traders.
Hogs: April lean hog futures rose 17 1/2 cents to $95.75, nearer the daily high. Lean hog futures today saw a pause. Keen risk aversion in the general marketplace limited the upside in hog futures, while firming cash hog prices limited the downside in futures.
Take part in the Pro Farmer Acreage Survey by providing input about your acreage decisions for the upcoming year: Take Survey