Corn: July corn futures rose 3/4 cent to $4.62 3/4, near mid-range and hit a three-week high early on. The corn futures market saw mild technical buying featured today as prices are now trending higher on the daily bar chart.
Soybeans: July soybeans fell 10 3/4 cents to $11.79 1/2, near the daily low after hitting a five-week high early on. July soybean meal fell $4.90 to $316.30, nearer the daily low and hit a two-week low. July soybean oil lost 65 points to 71.00 cents, near the daily low and hit a contract high early on. The soybean market could not hold overnight gains and saw price pressure today amid continued weakness in the soybean meal futures market.
Wheat: July SRW fell 5 3/4 cents to $6.07, nearer the session low after hitting a three-week high early on. July HRW lost 5 3/4 cents to $6.50, near the daily low. September spring wheat futures fell 2 1/4 cents to $6.81. The winter wheat futures markets saw profit-taking from the shorter-term speculators today.
Cotton: July cotton futures lost 222 points to 78.64 cents, near the daily low after hitting another two-year high early on today. July cotton futures today saw a big and bearish technical key reversal down on the daily bar chart, which is one chart clue that a market top is now in place.
Cattle: June live cattle fell $0.475 to $243.075, nearer the daily high and hit a three-week low early on. May feeder cattle fell $0.125 to $358.425, nearer the daily high and hit a three-week low early on. The cattle futures markets today saw mild follow-through technical selling pressure from recent losses that have produced significant near-term chart damage to suggest market tops are in place.
Hogs: June lean hog futures fell $0.575 to $102.625, nearer the session low. The lean hog futures market saw a corrective pullback today from good gains posted Tuesday.