Corn: July corn futures fell 9 1/2 cents to $4.65 3/4, nearer the daily low. The corn futures market saw heavy selling pressure today, much of which was profit taking and weak long liquidation from the shorter-term speculators.
Soybeans: July soybeans fell 9 3/4 cents to $11.99 3/4, nearer the daily low. July soybean meal fell $1.40 to $330.90, nearer the daily low. July soybean oil lost 78 points to 74.66 cents, nearer the session low. The soybean market today saw profit-taking pressure and weak long liquidation from the shorter-term specs today.
Wheat: July SRW fell 6 3/4 cents to $6.60 1/2, nearer the daily low. July HRW lost 5 cents to $6.98 3/4, nearer the daily low. September spring wheat futures fell 1 3/4 cents to $7.16 1/4. The winter wheat futures markets saw modest profit-taking pressure today. Solid losses in corn also spilled over into selling in wheat.
Cotton: July cotton futures fell 73 points to 81.60 cents, near mid-range. Cotton futures saw some technical selling today. A bearish pennant pattern has formed on the daily bar chart.
Cattle: June live cattle fell $1.275 to $253.275, near mid-range. August feeder cattle rose $2.125 to $365.775, nearer the daily high. The live cattle futures markets saw routine profit-taking pressure today. Feeders saw some technical buying featured.
Hogs: June lean hog futures fell $0.65 to $97.275, near the daily low and hit a five-month low. The lean hog futures market saw still more technical selling pressure today. The near-term technical posture for June hogs remains firmly bearish as prices remain in a downtrend on the daily bar chart.