Corn: March corn futures fell 24 1/4 cents to $4.21 1/2, near the session low and hit a 4.5-month low. The corn futures market got hammered today by a very bearish surprise from USDA today.
Soybeans: March soybeans fell 13 1/2 cents to $10.49 and nearer the daily low. March soybean meal fell $5.40 to $298.30, near the daily low. March soybean rose 58 points to 50.27 cents, near mid-range and hit a four-week high early on today. Soybeans saw bearish lean of USDA data released today. USDA lowered its U.S. soybean crop estimate 9 million bu. from November and left yield unchanged at 53.0 bu. per acre.
Wheat: March SRW fell 6 cents to $5.11 1/4 and nearer the daily low after hitting a four-week high early on. March HRW lost 3 1/2 cents to $5.26 3/4, nearer the daily low after hitting a seven-week high early on. March spring wheat futures fell 1 3/4 cents to $5.65 3/4. The winter wheat futures markets saw overall bearish USDA numbers today.
Cotton: March cotton rose 50 points to 64.91 cents, near mid-range. Cotton futures today saw short covering amid a friendly USDA report out near midday.
Cattle: February live cattle rose $1.525 to $235.25, near mid-range. March feeder cattle gained $1.475 to $356.175, nearer the session high. The cattle futures markets today saw corrective bounces from Friday’s losses.
Hogs: February lean hog futures fell 87 1/2 cents to $84.425, near mid-range and hit a three-week low. Lean hog futures today saw profit taking and weak long liquidation, amid a backslide in the cash hog market and the CME lean hog index.