Corn: May corn futures rose 3 cents to $4.62 1/2, nearer the daily high. The corn futures market today saw a decent corrective bounce from Monday’s losses, to keep alive a price uptrend on the daily bar chart.
Soybeans: May soybeans fell 8 1/2 cents to $11.55, near the daily low. May soybean meal lost $4.20 to $322.40, near the daily low. May soybean oil rose 15 points to 65.73, near mid-range. The soybean futures today saw technical selling pressure and also saw buying interest limited amid solid gains in the U.S. dollar index.
Wheat: May SRW rose 2 1/4 cents to $5.90, nearer the daily high. May HRW gained 3/4 cent to $6.04, nearer the session low. May spring wheat rose 4 1/4 cents to $6.31 1/4. The winter wheat futures markets saw tepid corrective bounces today following the selling pressure seen on Monday.
Cotton: May cotton futures rose 44 points to 67.62 cents, near the session high. The cotton futures market today saw a corrective bounce from recent selling pressure.
Cattle: April live cattle rose $0.075 to $235.375, near mid-range and hit a three-week high early on. May feeder cattle gained $2.35 to $350.70, nearer the daily high and hit a three-week high. The cattle futures markets today saw some fresh technical buying interest as the bulls have restarted price uptrends on the daily bar charts.
Hogs: April lean hog futures rose $0.25 to $91.05, near the session high and hit a nine-week low early on. The lean hog futures market saw mild short covering, following recent technical selling pressure that has produced near-term chart damage.