Corn: September corn fell 16 3/4 cents to $4.03 1/2, marking a low-range close. Corn futures gapped lower overnight, and faced technical selling in tandem with soybeans and wheat futures.
Soybeans: August soybeans closed down 24 cents at $10.31 1/2, while August meal fell $5.20 to $272.20, each marking low-range closes. August soyoil fell 61 points to 53.94 cents, a near mid-range close. Soybeans gapped lower overnight and faced notable selling throughout the session.
Wheat: December SRW wheat fell 8 cents to $5.70 1/4, nearer the session high. December HRW wheat fell 8 3/4 cents to $5.52, near mid-range and hit a seven-week low. December spring wheat futures fell 9 3/4 cents to $6.57. The wheat futures markets today fell victim to solid selling pressure in the corn and soybean futures markets amid very good growing conditions for those crops.
Cotton: December cotton fell 57 points to 67.89 cents, forging a mid-range close. Cotton futures gapped lower overnight, along with the grain and soy complexes, but was able to extend from the daily low as the session progressed.
Cattle: August live cattle rose $1.85 to $215.90, nearer the daily high and hit a three-week high. August feeder cattle gained $4.225 to $313.725, near the session high and hit a contract high. Once again the live and feeder cattle futures markets have made strong rebounds from their recent lows and are set to challenge or push above the contract highs.
Hogs: August lean hogs rose $1.00 to $107.10, nearer the session high. The August contract has moved to a slight premium to the nearby July futures. The lean hog futures market saw some short covering and corrective buying from the speculators after August hog futures prices hit a five-week low early on today.