Corn: May corn futures rose 2 1/4 cents to $4.62 1/2, nearer the daily low. The corn futures market today saw some more technical buying featured as prices are still trending higher on the daily bar chart.
Soybeans: May soybeans rose 13 1/4 cents to $12.27 1/4, near mid-range and hit a two-year high close. May soybean meal rose $4.80 to $320.20, nearer the daily high. May soybean oil gained 26 points to 67.42, nearer the daily low and closed at a contract high close. The soybean complex saw more technical buying interest today.
Wheat: May SRW rose 3 3/4 cents to $5.98 1/2, nearer the daily low. May HRW closed steady at $6.13 1/2, nearer the daily low. May spring wheat futures fell 3 1/2 cents to $6.34 1/2, nearer the daily low. The winter wheat futures market saw technical buying featured early on today, with gains in corn and soybeans also encouraging the wheat bulls to do some buying.
Cotton: May cotton futures fell 3 points to 65.14 cents, nearer the session low. The cotton futures market today saw buying interest limited by a stronger U.S. dollar index and heightened risk aversion in the general marketplace.
Cattle: April live cattle rose $1.10 to $231.25, nearer the daily high. March feeder cattle lost $0.50 to $348.225, nearer the daily high and hit a 2.5-month low early on. The live cattle futures market today saw a modest corrective bounce from recent selling pressure.
Hogs: April lean hog futures fell 85 cents to $94.35, near the daily low and closed at a two-week low close. Lean hog futures today saw more profit-taking pressure and weak long liquidation as the near-term technical posture of the market has deteriorated, which is also inviting the chart-based speculators to the short side.
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