Corn: July corn futures fell 3 1/2 cents to $4.40 1/2, near the daily low and hit a four-month low.
The price downdraft in the corn futures market continues amid weak long liquidation from the retail speculative traders and from the big funds.
Soybeans: July soybeans fell 15 1/2 cents to $11.65 1/4, near the daily low and hit a seven-week low. July soybean meal fell $0.30 to $326.20, nearer the daily high and hit a three-week low early on. July soybean oil lost 68 points to 78.41 cents, near mid-range.The soybean futures market today saw technical selling pressure as July futures prices are now trending lower on the daily bar chart.
Wheat: July SRW lost 5 3/4 cents to $6.03, near the daily low and hit a six-week low. July HRW fell 12 1/4 cents to $6.34 3/4, nearer the daily low and hit a six-week low. September spring wheat fell 14 cents to $6.61 1/2. The winter wheat futures markets saw more technical selling featured today.
Cotton: July cotton futures rose 40 points to 77.04 cents, near mid-range. Cotton futures saw some more short covering today. Gains were limited by a continued selloff in the grain futures markets.
Cattle: August live cattle fell $0.95 to $239.65, nearer the daily high. August feeder cattle lost $3.125 to $348.425, nearer the daily high but closed at a nine-week low close. The cattle futures markets today saw renewed technical selling pressure as both markets are in downtrends on their daily bar charts.
Hogs: August lean hog futures rose $1.375 to $98.975, near the daily high and hit a six-month low early on. The lean hog futures market saw short covering and perceived bargain hunting amid a steep price downtrend in place on the daily bar chart.