Corn: December corn fell 7 1/4 cents to $4.67, near the daily low and hit a nine-week low. The corn futures market saw more technical selling pressure today as the near-term chart posture remains bearish.
Soybeans: November soybeans fell 7 3/4 cents to $12.53 1/2, nearer the daily low and hit a seven-week low. December soybean meal lost $2.30 to $354.80, near the daily low and closed at a two-week low close. December soybean oil lost 44 points to 66.69 cents, near mid-range and hit a six-week low. The soybean market saw more technical selling featured today as prices are trending lower on the daily bar chart. Commercial hedge selling pressure is also stronger as combines are rolling full speed over most of the Midwest.
Wheat: December SRW fell 5 1/4 cents to $6.55 1/4, near the daily low and hit a nine-week low. December HRW fell 4 1/2 cents to $6.99 1/2, near the daily low and hit a three-month low. December spring wheat futures fell 6 1/4 cents to $6.70 1/4, near the daily low. The winter wheat futures markets saw technical selling pressure today as prices are trapped in downtrends on the daily bar charts.
Cotton: December cotton futures rose 13 points to 80.13 cents, nearer the daily low. Cotton futures have been pausing the past two sessions and are presently trapped in a sideways trading range. A firmer U.S. dollar index today limited buying interest, as did lower grain futures prices today.
Cattle: December live cattle fell $0.325 to $228.025, nearer the daily high. November feeder cattle rose $2.025 to $343.925, near the daily high and hit a three-month high. The live cattle futures market paused and saw mild profit taking today, amid a price uptrend in place on the daily bar chart.
Hogs: December lean hog futures fell $0.575 to $66.35, near the daily low and not far above last week’s contract low. The lean hog futures market saw more technical selling today. Overall, charts are still bearish, highlighted by a downtrend that remains in place on the daily bar chart. Cash hog market and CME cash index prices continue to trend lower.