Corn: May corn futures fell 6 1/4 cents to $4.55 3/4, near the daily low. The corn futures market today saw selling pressure amid a stronger U.S. dollar index and still somewhat elevated risk aversion in the general marketplace.
Soybeans: May soybeans rose 1/2 cent to $11.59 3/4, near the daily low. May soybean meal lost $0.40 to $314.90, near mid-range. May soybean oil rose 106 points to 68.47 cents, near mid-range. The soybean futures today saw tepid short covering and some position evening ahead of Tuesday’s all-important USDA planting intentions and quarterly grain stocks reports.
Wheat: May SRW rose 2 cents to $6.07, nearer the daily high. May HRW fell 6 1/2 cents to $6.26 1/4, nearer the session low. May spring wheat rose 3 3/4 cents to $6.52. The winter wheat futures markets saw positioning ahead of Tuesday’s USDA planting intentions and quarterly grain stocks reports.
Cotton: May cotton futures rose 73 points to 70.19 cents, near mid-range and hit a 5.5-month high. The cotton futures market today saw more technical buying. Gains in crude oil today also helped out the cotton bulls.
Cattle: June live cattle rose $1.425 to $240.20, nearer the daily high and hit a 5.5-month high. May feeder cattle gained $1.50 to $361.325, near mid-range and a six-week high. The cattle futures markets saw chart-based buying from the speculators featured today as the technicals have turned more price-friendly for both markets the past couple weeks.
Hogs: June lean hog futures fell $0.25 to $105.875, nearer the session low. The lean hog futures market today saw a mild corrective pullback following two sessions in a row of good price gains.