Corn: December corn fell 2 3/4 cents to $4.78, near the daily low. The corn futures market saw technical selling pressure today as the near-term chart posture remains bearish. Combines in the Corn Belt are running mostly in high gear this week, which is also prompting better commercial hedge pressure on corn futures.
Soybeans: November soybeans fell 14 1/4 cents to $12.63, near the daily low and hit a six-week low. December soybean meal lost $4.70 to $359.80, near the daily low. December soybean oil rose 9 points to 67.15 cents, near mid-range and hit a six-week low. Bulls have been very disappointed that prices have sold off following news Wednesday that Chinese state buyers bought 8 to 10 Panamax cargoes of U.S. soybeans this week, Reuters reported. USDA this morning reported daily sales of 330,000 MT of soybeans to China and 283,450 MT to unknown destinations during the 2026-27 marketing year.
Wheat: December SRW fell 3 1/4 cents to $6.70, nearer the daily low. December HRW fell 2 cents to $7.13, nearer the daily low. December spring wheat futures fell 4 cents to $6.86, at the daily low. The winter wheat futures markets saw mild technical selling today. Prices remain trapped in downtrends on the daily bar charts.
Cotton: December cotton futures fell 60 points to 80.06 cents, nearer the daily low. Cotton futures saw mild pressure today amid mostly weaker grain futures prices, a weaker U.S. stock market. However, sharply higher crude oil prices today did limit the downside in cotton. The near-term technical posture for cotton futures has turned more bullish this week.
Cattle: December live cattle rose $2.125 to $227.25, near the daily high and hit a nine-week high. November feeder cattle rose $3.50 to $341.95, near the daily high. The live and feeder cattle futures markets saw renewed technical buying today as the near-term charts remain bullish amid price uptrend in place. Longer-term supply and demand fundamentals remain bullish, too.
Hogs: December lean hog futures rose $0.50 to $66.575, near the daily high after hitting a contract low early on. The lean hog futures market saw tepid short covering in a bear market today. Overall, charts are still bearish, highlighted by a downtrend that remains in place on the daily bar chart.