Corn: March corn futures rose 4 cents to $4.44 1/2, nearer the daily high. The corn futures market saw short covering and perceived bargain hunting today, following early week selling pressure.
Soybeans: January soybeans fell 6 cents to $10.52 1/4, nearer the daily low and hit a seven-week low. January soybean meal 20 cents to $298.40, nearer the daily low and hit a seven-week low early on. January soybean oil fell 41 points to 48.11 cents, nearer the session low and closed at a six-month low close. The soybean and bean oil futures markets today saw more technical selling pressure, amid bearish near-term technical postures.
Wheat: March SRW rose 1 1/2 cents to $5.07 3/4, near mid-range. March HRW rose 9 1/4 cents to $5.17, nearer the daily high. March spring wheat futures increased 10 1/4 cents to $5.72 1/4, nearer the daily high. The winter wheat futures markets today saw short covering and perceived bargain hunting, with HRW leading the way.
Cotton: March cotton rose 8 points to 63.51 cents, near mid-range. Cotton futures today saw tepid short covering after prices Tuesday hit a contract low.
Cattle: February live cattle fell $1.15 to $228.40, near mid-range. January feeder cattle fell $1.25 to $340.275, nearer the daily high. The live and feeder cattle futures markets saw more profit taking today as the bulls are fading a bit late this week and do not want to see technically bearish weekly low closes on Friday that would begin to suggest near-term market tops are in place.
Hogs: February lean hogs rose $1.125 to $84.125, near mid-range. Lean hog futures rebounded today on some perceived bargain hunting and more technical buying.