Corn: July corn futures fell 13 cents to $4.70 1/4, near the session low and hit a three-week low. The corn futures market today was pressured by good early-season U.S. corn planting/growing conditions.
Soybeans: July soybeans fell 9 3/4 cents to $10.52 3/4, ending near mid-range. July soymeal rose $2.30 to $298.20, closing near the session high. July soyoil slid 113 points to 49.33 cents. Soybeans succumbed to general pressure across the ag complex, ultimately testing support at the 10- and 200-day moving averages. Questionable U.S./China trade relations continue to lend a risk-off tone as traders remain cautious amid looming uncertainties.
Wheat: July SRW futures fell 5 1/2 cents to $5.25 1/2 and closed near session lows. July HRW skid 8 3/4 cents to $5.31 and closed on session lows. July spring wheat futures fell 4 cents to $5.92 3/4. Fruitful growing conditions and reports of heightened competition for exports both weighed heavily on wheat futures today.
Cotton: July cotton fell 106 points to 66.49 cents, forging a low-range close. Cotton futures faced extended selling pressure amid lingering trade uncertainty while planting efforts continue to pace ahead of average.
Cattle: June live cattle futures climbed 60 cents to $210.20 and closed near mid-range. August feeder cattle futures surged $1.95 to $296.90 and closed nearer session highs. Cattle futures posted modest gains today as the recent rally is slowing given overnight bought conditions across the marketplace.
Hogs: June lean hogs fell $1.55 to $99.45, near the daily low. The hog futures market today saw profit-taking pressure from recent gains that saw prices Monday hit a nine-week high.