Corn: July corn futures fell 3 cents to $4.74 3/4, nearer the daily low after hitting another four-week high overnight. The corn futures market saw routine profit taking from the shorter-term traders today, following recent good gains.
Soybeans: July soybeans fell 1 1/2 cents to $11.95 1/2, near mid-range and hit a six-week high early on. July soybean meal fell $4.90 to $318.90, near the daily low. July soybean oil gained 42 points to 74.54 cents, nearer the daily high and hit yet another contract high. The soybean market today saw a mild corrective pullback from this week’s gains. Losses in meal, wheat and corn futures markets today limited buying interest in beans.
Wheat: July SRW fell 16 1/4 cents to $6.36 3/4, near the daily low. July HRW lost 11 1/4 cents to $6.93 1/2, nearer the daily low. July spring wheat futures fell 9 3/4 cents to $7.05 3/4. The HRW wheat futures markets today saw follow-through selling from the late-session price pressure on Wednesday.
Cotton: July cotton futures rose the 300-point limit to 82.20 cents and hit a contract high. July cotton futures today saw heavy technical buying interest as prices are trending strongly higher.
Cattle: June live cattle fell $1.25 to $254.00, nearer the daily low. May feeder cattle gained $1.15 to $372.65, near mid-range. The live cattle futures markets bulls took a pause today after recent solid gains that pushed prices to a record high on Wednesday.
Hogs: June lean hog futures fell $1.475 to $102.275, near the daily low. The lean hog futures market bulls fizzled today and gave back nearly all of Wednesday’s gains