Corn: May corn futures fell 13 1/4 cents to $4.54, nearer the daily low. The corn futures market today saw spillover selling pressure from limit-down losses in the soybean and bean oil futures markets.
Soybeans: May soybeans fell the daily limit of 70 cents to $11.55 1/4 and hit a more-than-two-week low today. May soybean meal fell $10.50 to $312.20, near the daily low. May soybean oil fell the daily limit of 350 points to 63.94 cents. Both soybean and bean oil futures will trade with expanded daily price limits on Tuesday. The soybean complex shuddered today as President Trump threatened to delay his summit with Chinese President Xi Jinping if Beijing doesn’t help secure the Strait of Hormuz.
Wheat: May SRW lost 16 1/2 cents to $5.97 1/4, near the daily low. May HRW lost 13 1/2 cents to $6.16 1/2, near the daily low. May spring wheat futures fell 11 1/2 cents to $6.34. The winter wheat futures market saw spillover selling pressure today from limit-down losses in soybeans and bean oil, and solidly lower corn prices, too.
Cotton: May cotton futures rose 234 points to 68.19 cents, nearer the session high and hit a 4.5-month high. Cotton traders were encouraged by news top U.S. and Chinese economic officials held “remarkably stable” talks in Paris on Sunday that touched on potential areas of agreement in agriculture for President Trump and Chinese President Xi Jinping to consider in Beijing, according to a Reuters report.
Cattle: April live cattle rose $2.925 to $231.875, nearer the daily high. March feeder cattle gained $5.975 to $355.45, near the daily high. The cattle futures markets today saw good corrective rebounds and perceived bargain hunting from recent selling pressure.
Hogs: April lean hog futures rose 5 cents to $93.50, nearer the daily low. Lean hog futures today paused as bulls work to stabilize the market after recent selling pressure.
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