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Corn: March corn futures fell 1 3/4 cents to $4.26 1/2, nearer the daily low. The corn futures market saw some more corrective selling pressure today.
Soybeans: March soybeans rose 5 1/2 cents to $10.67 1/4, nearer the daily high. March soybean meal fell 30 cents to $294.00, near mid-range. March soybean oil rose 52 points to 54.41 cents, near the daily high and closed at a four-month high close. The soybean market today saw some short covering and perceived bargain hunting.
Wheat: March SRW rose 3/4 cent to $5.23 1/4 and near mid-range. March HRW rose 3 cents to $5.32 3/4 and near the daily high. March spring wheat futures rose 2 cents to $5.71 3/4. The winter wheat futures markets today saw a pause and some mild short covering following Monday’s selling pressure.
Cotton: March cotton rose 86 points to 63.83 cents, near the daily high. The cotton futures market saw a decent corrective bounce today, mostly on short covering and perceived bargain hunting after hitting a contract low on Monday.
Cattle: April live cattle fell 60 cents to $237.40, near mid-range. March feeder cattle fell 60 cents to $362.00, nearer the session high. The live and feeder cattle futures markets paused today. Selling interest was limited by the lingering effects of last Friday afternoon’s monthly USDA cattle-on-feed report that leaned overall price-friendly.
Hogs: April lean hog futures rose 10 cents to $96.825, near mid-range and hit another contract high early on. Lean hog futures today paused, with selling interest limited by solid technicals and rising cash hog and CME lean hog index prices.