Corn: July corn rose 5 1/4 cents to $4.75 1/2, above the 40-day moving average. Corn futures saw moderate corrective buying in the wake of Tuesday’s selling.
Soybeans: July soybeans fell 8 1/4 cents to $10.44 1/2 and nearer the daily low. July soybean meal fell 20 cents to $298.00 and near mid-range. July soybean oil fell 36 points to 48.97 cents and nearer the daily low. The soybean complex saw selling pressure today from a risk-off trading day in the general marketplace following some downbeat U.S. economic data.
Wheat: July SRW futures rallied 5 1/4 cents to $5.30 3/4 but settled near mid-range. July HRW futures fell 1 1/2 cents to $5.29 1/2, nearer session lows. July spring wheat rose 4 1/4 cents to $5.97. Winter wheat futures saw corrective buying today after forging fresh contract lows overnight.
Cotton: July cotton fell 47 points to 66.02 cents, near mid-range and hit a two-week low. The cotton futures market continues to break down amid fresh technical selling, sharp losses in the crude oil market this week and continued risk aversion in the general marketplace.
Cattle: June live cattle fell $1.80 to $208.40, while August Feeders slid $1.875 to $295.025. Cattle futures paused after scoring a new for-the-move high in early trade.
Hogs: June lean hogs sunk $1.175 to $98.275 and closed near mid-range. Lean hog futures faced followthrough selling today, in a continued technical breakdown in the wake of Tuesday’s reversal lower.