Corn: March corn futures rose 5 1/2 cents to $4.35, nearer the session high and hit a three-week high. The corn futures market saw more short covering today and perceived bargain buying today.
Soybeans: March soybeans rose 20 cents to $11.12 1/4, near the session high and closed at a nearly two-month high close today. March soybean meal gained $7.00 to $303.20, nearer the session high and hit a four-week high. March soybean oil fell 1 point to 55.65 cents, near mid-range and hit a 5.5-month high early on. The soybean and meal futures markets saw heavy short covering and perceived bargain buying today, as well as some technical buying amid much-improved near-term chart postures for soybeans and meal.
Wheat: March SRW rose 8 1/2 cents to $5.35 1/4, nearer the daily high. March HRW gained 8 1/4 cents to $5.38 1/2, near the daily high. March spring wheat futures rose 5 1/2 cents to $5.71 1/2, nearer the daily high. The winter wheat futures markets today saw short covering and perceived bargain hunting. Solid gains in corn and soybeans also supported the wheat markets today.
Cotton: March cotton fell 48 points to 61.76 cents, nearer the daily low and hit another contract low. The cotton futures market saw technical selling pressure resume today as the near-term technical posture for the market remains firmly bearish.
Cattle: April live cattle fell $6.20 to $235.60, near the daily low and hit a three-week low. March feeder cattle lost $6.00 to $364.075, near mid-range. The live and feeder cattle futures markets saw heavy profit-taking pressure from the speculators today.
Hogs: April lean hog futures fell 7 1/2 cents to $98.375, near the session high. Lean hog futures today saw some more mild profit-taking pressure after hitting a contract high Wednesday.