Corn: December corn fell 7 cents to $4.65 1/2, nearer the daily low. The corn futures market saw most of Monday’s gains taken right back by the bears today.
Soybeans: November soybeans fell 14 1/2 cents to $11.77 3/4, nearer the daily low and hit a four-week low. September soybean meal lost $2.70 to $312.70, nearer the daily low and hit a three-week low. September soybean oil lost 59 points to 68.20 cents, nearer the daily low. The soybean complex futures markets today saw a “Turnaround Tuesday” as Monday’s gains were lost and then some for beans and meal.
Wheat: September SRW fell 12 1/2 cents to $6.38 1/2, nearer the daily low. September HRW lost 10 1/4 cents to $7.07, nearer the daily low. September spring wheat futures fell 10 1/2 cents to $6.84 1/2. The winter wheat futures markets saw more technical selling today as fledgling price downtrends are in place on the daily bar charts.
Cotton: December cotton futures lost 11 points to 82.46 cents, near the daily high. Cotton futures saw a slight corrective pullback today, after prices Monday closed at a nine-week high close.
Cattle: October live cattle rose $1.175 to $227.90, near the daily high. September feeder cattle rose $3.60 to $346.15, near the daily high and closed at a two-week high close. The cattle futures markets today extended their recent gains.
Hogs: October lean hog futures rose $0.675 to $84.35, nearer the daily high. The lean hog futures market saw modest short covering today but bears still have some momentum and confidence.