Corn: March corn futures fell 1 cent to $4.43 3/4, nearer the daily low. Trading in the corn futures market remains choppy and sideways as prices are right in the middle of a well-defined trading range.
Soybeans: January soybeans lost 11 1/2 cents to $10.93 3/4, near the session low and hit a five-week low. January soybean meal fell $1.10 to $306.30, near mid-range and hit a five-week low. January soybean oil fell 51 points to 51.18 cents, near the daily low. The soybean and meal futures markets saw more technical selling today, which also pressured the bean oil market.
Wheat: March SRW fell 1 cent to $5.34 3/4, near mid-range. March HRW lost 4 3/4 cents to $5.26 1/2, nearer the daily low. March spring wheat futures fell 1 3/4 cents to $5.71 1/4. Winter wheat markets today saw some trader positioning ahead of Tuesday morning’s USDA monthly supply and demand report for December.
Cotton: March cotton fell 25 points to 63.68 cents, near the daily low and hit a two-week low. Cotton futures saw some more technical selling pressure today, along with some position evening, ahead of Tuesday’s monthly USDA supply and demand report.
Cattle: February live cattle fell 47 1/2 cents to $226.675, near mid-range and hit a four-week high early on. January feeder cattle lost $3.40 to $335.65, near mid-range. The live and feeder cattle futures markets saw some pausing and modest downside price corrections to start the trading week, following last week’s strong gains that firmly suggest near-term market bottoms are in place.
Hogs: February lean hogs rose 12 1/2 cents to $82.40, nearer the daily high and closed at a four-week high close. Lean hog futures prices paused today following recent good gains.