Corn: July corn futures rose 1 1/4 cents to $4.55 1/2, near mid-range and hit a five-week low. July corn futures market saw mild short covering and bull spreading today and traded on both sides of unchanged.
Soybeans: July soybeans fell 4 1/4 cents to $10.41 1/4, while July soymeal fell $2.50 to $293.00. Both notched low-range closes. July soyoil closed 38 points lower at 48.35 cents, but ended well off the session low. Soybeans faced followthrough selling amid technical pressure and looming trade unknowns.
Wheat: July SRW futures rose 4 3/4 cents to $5.36 and closed nearer session highs. July HRW futures climbed 5 1/4 cents to $5.38. July spring wheat futures rose a penny to $6.10 1/2. Winter wheat saw corrective buying today amid consolidation following last week’s contract lows.
Cotton: July cotton fell 59 points to 67.83 cents, marking a low-range close. Cotton futures declined modestly amid technical resistance and fading equities, though U.S. dollar weakness curbed earnest selling interest.
Cattle: June live cattle futures inched 2.5 cents higher to $213.675 and closed near mid-range. August feeders climbed 30 cents to $299.0 and settled nearer session highs. Cattle futures languished near contract highs today as traders await direction from the cash market.
Hogs: June lean hogs fell $1.425 to $97.575, nearer the daily low and hit a three-week low. The lean hog futures market saw profit-taking pressure from the speculators and also some chart-based selling as the near-term technical posture for hogs took a turn south today.