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Corn: December corn rose 8 1/4 cents to $5.46, near the daily high and hit another contract and three-year high overnight. The corn futures market bulls hit the accelerator again today. The charts remain firmly bullish and the fundamental picture is also price-friendly. Soybeans: November soybeans rose 29 3/4 cents to $13.17 3/4, near the daily high and hit another contract high and 2.5-year high. December soybean meal gained $7.30 to $352.60, near the daily high and hit a two-year high. December soybean oil rose 151 points to 72.63 cents, near the daily high and hit a five-week high. The soybean market bulls hit the gas today on fresh U.S. bean sales to China and amid bullish charts. Wheat: December SRW rose 8 1/2 cents to $7.82 1/2, nearer the daily high and hit a contract and three-year high. December HRW gained 7 1/4 cents to $8.45 1/4, nearer the daily high and hit a contract and three-year high. December spring wheat futures rose 13 3/4 cents to $7.67 3/4. The wheat futures markets saw more buying interest amid Black Sea supply constraints as Russia and Ukraine continue to attack each other’s export infrastructure. Cotton: December cotton futures fell 159 points to 91.55 cents, nearer the daily low. Cotton futures saw routine profit-taking pressure today. Cattle: October live cattle fell $0.60 to $212.075, near mid-range. November feeder cattle fell $1.90 to $308.525, near mid-range. October live cattle and November feeder futures saw more technical selling pressure today. Hogs: October lean hog futures fell $0.025 to $83.65, near mid-range and hit a three-week high. The lean hog futures market paused today after recent good gains that suggest the futures market has bottomed out. |