Corn: December corn futures rose 2 1/2 cents to $4.29 3/4, nearer the daily high. The corn futures market today saw mild buying interest amid better risk appetite in the general marketplace on notions the U.S. government may reopen soon and with that a resumption of the flow of USDA economic data.
Soybeans: January soybeans rose 13 cents to $11.30, near the session high. December soybean meal gained $2.90 to $320.00, nearer the daily high. December soybean oil rose 90 points to 50.58 cents, near the daily high and hit a two-week high. The soy complex futures today saw buying interest featured amid better risk appetite in the general marketplace as U.S. lawmakers appear to be getting closer to a deal to reopen the federal government after a more-than-40-day shutdown.
Wheat: December SRW rose 8 cents to $5.35 3/4, near the daily high. December HRW gained 7 3/4 cents to $5.27, near the daily high. December spring wheat futures rose 6 1/4 cents to $5.64 1/4. Winter wheat markets today saw corrective bounces after late last week’s sell offs.
Cotton: December cotton rose 69 points to 64.31 cents, near the daily high. December cotton futures today saw short covering and some perceived bargain buying amid better risk appetite in the general marketplace that saw U.S. and global stock markets rally on hopes the U.S. government will reopen sooner, as lawmakers appear to be closer to a deal to do such.
Cattle: December live cattle rose $7.20 to $228.55, near the daily high. January feeder cattle rose the daily trading limit of $9.25 to $328.825. Trading limits in both cattle futures markets will be expanded on Tuesday. The live and feeder cattle futures markets today saw heavy short covering and perceived bargain hunting after the markets late last week dropped to multi-month lows.
Hogs: December lean hogs rose $3.375 to $82.775, near the daily high. Lean hog futures today saw strong short covering and perceived bargain hunting after December futures hit a four-month low last Friday.