Corn: July corn futures fell 7 1/4 cents to $4.11 3/4, near the daily low and hit a contract low. The corn futures market today saw more technical selling kick in. Continued very good overall corn-growing weather in the U.S. at present remains the main bearish element in the corn futures market.
Soybeans: July soybeans fell 8 cents to $11.15, nearer the daily low. July soybean meal fell $0.20 to $301.70, nearer the daily low. July soybean oil fell 88 points to 74.45 cents, near the daily low. The soybean market saw selling from the chart-based speculators resume today. Weather in the Midwest still leans firmly price-bearish for the soy complex at present.
Wheat: July SRW fell 3/4 cent to $5.86 3/4, near mid-range. July HRW gained 4 1/4 cents to $6.34 3/4, near mid-range. September spring wheat futures rose 2 cents to $6.45 1/2, nearer the daily low. The U.S. wheat outlook for 2026-27 projects smaller supplies and, with no other changes to the balance sheet, lower ending stocks.
Cotton: July cotton futures rose 139 points to 72.49 cents, near the daily high. Cotton futures saw a corrective bounce today following recent selling pressure. USDA’s WASDE report today showed the U.S. 2025-26 cotton carryover estimate down 200,000 bales from last month.
Cattle: August live cattle rose $1.175 to $242.675, near the daily high. August feeder cattle gained $5.275 to $359.65, near the session high and hit a three-week high. The cattle futures markets saw a third straight day of gains amid U.S. cattle supply concerns. The current total of screwworm cases in the U.S. now stands at seven, with five now confirmed in cattle.
Hogs: August lean hog futures rose $0.475 to $95.90, near mid-range. The lean hog futures market paused today as the technical sellers took a respite. Near-term technicals remain bearish as a price downtrend remains in place on the daily bar chart. The market is still short-term oversold, technically, and due for a decent corrective bounce.