Corn: December corn fell 1 1/4 cents to $4.60 1/2, nearer the daily low and closed at a four-week low close. The corn futures market saw selling pressure amid general risk-off trading heading into USDA’s supply and demand report due out Wednesday morning.
Soybeans: November soybeans fell 10 3/4 cents to $11.68 3/4, nearer the daily low and hit a four-week low. September soybean meal lost $0.50 to $305.00, nearer the daily low and hit another four-week low. September soybean oil fell 96 points to 68.57 cents, nearer the daily low. The soybean market today saw more technical selling pressure as prices remain in a downtrend on the daily bar chart.
Wheat: September SRW fell 10 1/4 cents to $6.30 1/4, nearer the daily low. September HRW lost 14 1/4 cents to $6.99 1/4, nearer the daily low. September spring wheat futures fell 10 3/4 cents to $6.59 1/4. The winter wheat futures markets saw more technical selling from the speculators and position evening ahead of Wednesday’s USDA WASDE reports.
Cotton: December cotton futures rose 53 points to 84.39 cents, nearer the daily high and closed at a three-month high close. Cotton futures paused for most of the session amid position evening ahead of Wednesday morning’s monthly USDA supply and demand report.
Cattle: October live cattle fell $0.575 to $226.325, near the daily low. September feeder cattle rose $0.675 to $345.25, nearer the daily low. October live cattle and September feeder futures today saw more short covering and some perceived value-buying early in the session, but gains faded in feeders and were lost in live cattle by the close.
Hogs: October lean hog futures fell $0.35 to $83.325, nearer the daily high. The lean hog futures market saw mild technical selling pressure as the October contract remains in a price downtrend on the daily bar chart.