After the Bell | December 19, 2023
Corn: March corn futures fell 4 1/4 cents to $4.72 3/4 and near the session low. Prices posted a contract low close. Technical selling pressure was featured in the corn futures market today.
Wheat: March SRW wheat rose 5 3/4 cents to $6.22 3/4 and near the session high. March HRW wheat gained 13 3/4 cents at $6.41 1/2. Prices closed near the session high and hit a two-week low early on. Spring wheat futures rallied 6 3/4 cents before settling at $7.28 1/4. Short covering was featured in the winter wheat futures markets today.
Cotton: Cotton futures rebounded Tuesday in the wake of consecutive sizeable losses over the prior three sessions. Nearby March futures rose 36 points to 79.46 cents per pound. Cotton futures have apparently remained under constant downward pressure lately, likely due to concerns about China’s economic outlook and its demand for U.S. cotton.
Cattle: February live cattle futures fell 85 cents to $168.775, settling near the session low. January feeder futures fell $1.275 to $221.90, also near session lows. Live cattle futures continue to face limited volatility as prices traded both sides of unchanged, though selling increased into the close.
Hogs: Hog futures posted varying losses Tuesday, with nearby February tending toward the weak end of the spectrum. It fell $1.025 cents to $70.55. The hog and pork complex is seemingly undergoing the traditional late-year decline.
