Corn: December corn fell 2 1/4 cents to $4.39 1/4, nearer the daily low and closed at a four-month low close. The corn futures market today saw modest renewed technical selling pressure as prices remain trapped in a near-term downtrend.
Soybeans: January soybeans fell 5 1/2 cents to $11.88 1/4, near the daily low. December soybean meal rose $1.50 to $320.70, nearer the daily high. December soybean oil fell 23 points to 62.03 cents, near the daily low and closed at a seven-month low close. The soybean market today saw more chart-based selling as price downtrends on the daily bar charts remain in place for beans, meal and bean oil.
Wheat: December SRW fell 3 1/4 cents to $5.88, near mid-range and closed at a four-month-low close. December HRW closed steady at $6.32 1/2, near the daily high. December spring wheat futures rose 6 1/4 cents to $6.22 1/4, nearer the daily high. The SRW wheat futures market saw technical selling as the bleeding resumed today. HRW paused.
Cotton: December cotton futures fell 33 points to 78.78 cents, near the daily low. Cotton futures saw tepid short covering and perceived bargain hunting early on today, but bulls faded down the stretch as some technical selling kicked in. A big rebound in the U.S. stock indexes today limited selling interest in cotton, as did a weaker U.S. dollar index to start the trading week.
Cattle: December live cattle rose $2.15 to $216.20, near mid-range after hitting an 11-month low on Friday. January feeder cattle rallied $5.80 to $324.175, nearer the daily high after hitting a six-week low on Friday. The cattle futures markets saw short covering and perceived bargain buying today after the recent two-week downdraft in prices. A solid rebound in the U.S. stock indexes to start the trading week was also a positive for the cattle futures markets, after the stock indexes melted down the past two weeks.
Hogs: December lean hog futures rose $2.35 to $55.875, nearer the daily high. The lean hog futures market saw short covering and perceived bargain hunting today after the market careened to contract lows last week.