Corn: May corn futures fell 5 cents to $4.49, near the daily low and closed at a three-week low close. The corn futures market saw renewed technical selling pressure today and was also pressured by a downtick in trader/investor risk appetite in the general marketplace today.
Soybeans: May soybeans fell 8 1/2 cents to $11.58 1/4, nearer the daily low. May soybean meal lost $4.80 to $311.80, nearer the daily low and hit a three-week low. May soybean oil fell 23 points to 69.72 cents, nearer the daily low after hitting a contract high early on today. The soybean and meal futures markets today saw technical selling pressure.
Wheat: May SRW rose 2 3/4 cents to $5.98, nearer the daily high. May HRW fell 3/4 cent to $6.07 1/2, near mid-range. May spring wheat futures fell 3 1/2 cents to $6.41. The SRW wheat futures markets saw technical selling pressure today, while the HRW market saw some short covering.
Cotton: May cotton futures fell 36 points to 71.31 cents, nearer the session low and hit an 11-month high early on. The cotton futures market today paused and saw some mild profit taking after recent solid gains.
Cattle: June live cattle fell $1.225 to $245.80, nearer the daily low. May feeder cattle lost $3.725 to $366.625, nearer the daily low. The cattle futures markets today saw routine profit-taking pressure and needed downside price corrections following recent gains that pushed June live cattle to a contract high and May feeders to a 5.5-month high on Monday.
Hogs: June lean hog futures fell $0.65 to $107.05, nearer the session low. The lean hog futures market saw mild profit-taking pressure from the shorter-term futures traders following Monday’s solid gains.