Corn: December corn futures rose 4 1/2 cents to $4.34 3/4, nearer the daily high. The corn futures market today saw a good and much-needed rebound following Friday’s solid losses, to keep a price uptrend alive on the daily bar chart and keep the speculative bears at bay.
Soybeans: January soybeans rose 32 3/4 cents to $11.57 1/4, nearer the session high and hit a 17-month high. December soybean meal rose $8.30 to $330.80, nearer the daily high and hit a nine-month high. December soybean oil gained 99 points to 51.14 cents, nearer the daily high. The soybean complex futures today put in very impressive price performances following Friday’s sell offs.
Wheat: December SRW rose 17 cents to $5.44 1/4, nearer the daily high. December HRW rose 13 1/2 cents to $5.28 3/4, nearer the session high. December spring wheat futures rose 9 cents to $5.73 3/4. Winter wheat markets today saw solid rebounds from Friday’s selling pressure, to give the chart-based bulls confidence to continue to play the long sides in the near term.
Cotton: December cotton fell 13 points to 62.36 cents, near mid-range. December cotton futures today paused after prices dropped to a contract low on Friday.
Cattle: December live cattle rose $2.125 to $221.275, near the daily high. January feeder cattle gained $5.725 to $326.275 and near the daily high. The live and feeder cattle futures bulls today showed needed strength as they try to halt the near-term price downtrends.
Hogs: December lean hogs rose 7 1/2 cents to $78.575, near mid-range. Lean hog futures market today saw a pause in the near-term price downtrend, but the market still looks heavy.