Corn: December corn fell 1/2 cent to $4.97 1/4, nearer the session low and closed at a six-week low close. The corn futures market saw a pause and some chart consolidation today. The U.S. dollar index rallied to a 1.5-year high again today, which limited the upside in corn futures.
Soybeans: November soybeans rose 2 1/2 cents to $12.80 3/4, nearer the daily low. December soybean meal lost $0.40 to $347.10, near mid-range and hit a four-week low. December soybean oil gained 73 points to 69.35 cents, near mid-range and hit a three-week high. The soybean complex futures got some buying support today as USDA reported daily U.S. soybean sales of 104,000 MT of soybeans to unknown destinations during 2026-27.
Wheat: December SRW rose 9 1/4 cents to $6.92 1/4, nearer the daily high. December HRW gained 7 cents to $7.42 1/4, near mid-range. December spring wheat futures rose 10 1/2 cents to $7.08 1/2, near the daily high. The wheat futures markets saw short-covering bounces today. Buying support came in part due to massive Russian airstrikes targeting industrial and port infrastructure in Ukraine’s Odessa region, Reuters reported.
Cotton: December cotton futures rose 198 points to 80.86 cents, near the daily high. Cotton futures saw short covering and perceived bargain buying today. Gains in soybeans and wheat, as well as a rally in the U.S. stock indexes, supported better buying interest in cotton futures.
Cattle: December live cattle fell $1.50 to $219.975, nearer the daily low. November feeder cattle lost $1.025 to $330.125, near mid-range. The live and feeder cattle futures markets saw some mild profit taking and chart consolidation to start the trading week. Overall supply and demand fundamentals are still bullish for cattle and beef markets.
Hogs: December lean hog futures rose $0.825 to $70.95, nearer the daily high and hit a two-week high today. The lean hog futures market saw more short covering and perceived bargain hunting today and the bulls have momentum to begin to suggest a market bottom may be in place. Gains in futures were limited, however, as cash hog market prices continue to trend down.