Corn: July corn fell 8 1/2 cents to $4.51, ending just shy of the session low. Bear-spreaders were active today as old crop corn futures dove, breaching technical support at the 20- and 10-day moving averages, as pressure from the 200-day moving average continued to curb buyer interest.
Soybeans: July soybeans fell 14 cents to $10.48 1/2, near the session low. July soybean meal fell $2.60 to $293.70, near the daily low. July soybean oil lost 64 points to 48.93, near the daily low. The soybean complex futures today fell victim to technical selling pressure and solid losses in the corn futures market.
Wheat: July SRW futures inched 1 3/4 cent higher to $5.30 1/4 and settled near mid-range. July HRW futures rose 3/4 cent to $5.25 1/4. July spring wheat futures rose 7 cents to $6.03 1/4. Winter wheat struggled to hold onto overnight strength despite declining crop conditions and a lackluster spring wheat crop.
Cotton: July cotton fell 24 points to 65.33 cents, nearer the session high. The cotton futures market today dropped to the bottom of its choppy trading range but chart support held and then prices rebounded to finish nearer the daily high.
Cattle: June live cattle fell $1.20 to $213.925, while August feeders closed $2.525 lower at $295.625. Cattle futures held an inside range, supported technically by the 10- and 20-day moving averages.
Hogs: June lean hog futures rallied $1.175 to $100.275 and closed on session highs. Hog futures saw another day of gains and are trading in the upper end of the recent range as cash fundamentals continue to support futures. June lean hogs encountered technical selling pressure that capped gains today.