Corn: July corn fell 6 1/4 cents to $4.49 1/4, closing near the session low. Bear spreaders showed up again today, with old-crop futures retreating from overnight highs while new-crop futures firmed modestly.
Soybeans: July soybeans fell 2 cents to $10.39 1/4 and near the daily low. July soybean meal rose $2.00 to $295.00 and nearer the daily high. July soybean oil fell 102 points to 47.33 cents, near the daily low and hit a three-week low. The soybean and bean oil futures markets lost their overnight gains that were inspired by initial optimism regarding a U.S.-China trade meeting in the coming days.
Wheat: July SRW futures closed 1 3/4 cents lower to $5.34 1/4 and closed near session lows. July HRW futures plunged 8 1/2 cents to $5.29 1/2, near session lows. July spring wheat futures fell 7 1/2 cents to $6.03. Wheat futures saw impressive gains overnight but struggled to maintain strength as the session went on.
Cotton: July cotton fell 45 points to 67.38 cents and near the session low. The cotton futures market bulls and bears continue to battle in a choppy and sideways trading affair, with neither side gaining much traction recently.
Cattle: June live cattle closed $1.15 lower at $212.525; a mid-range close, while August feeders fell 60 cents to $298.60. Cattle futures put it in reverse after posting new all-time highs on Tuesday, though there is no cause for alarm given recent technically overbought conditions.
Hogs: June lean hog futures closed a quarter lower at $97.325 and nearer session lows. Lean hog futures saw action on either side of unchanged today as prices continue to consolidate on the daily bar chart.