Corn: March corn futures fell 3 1/4 cents to $4.36 1/2, nearer the daily low and hit a three-week low. The corn futures market saw more technical selling pressure today as the bulls are fading.
Soybeans: January soybeans fell 9 cents to $10.62 3/4, nearer the daily low and hit a seven-week low. January soybean meal lost $1.10 to $302.40, near the daily low. January soybean oil fell 112 points to 48.36 cents, nearer the session low and hit a six-month low. The soy complex futures today saw more technical selling pressure as all three products’ prices are trending down on the daily bar charts.
Wheat: March SRW fell 11 1/4 cents to $5.09 1/2, nearer the session low and hit a contract low. March HRW lost 7 cents to $5.05, near the daily low and hit a seven-week low. Spring wheat futures fell 3 3/4 cents to $5.65. The SRW wheat markets today saw heavy technical selling pressure amid price downtrends firmly in place on the daily charts.
Cotton: March cotton fell 84 points to 63.10 cents, nearer the daily low and hit a contract low. Cotton futures saw technical selling pressure today, as technicals are firmly bearish, including a price downtrend in place on the daily bar chart.
Cattle: February live cattle rose 15 cents to $230.70, near mid-range. January feeder cattle gained $3.40 to $343.325, nearer the session high and closed at a seven-week high close. The live cattle futures market is pausing this week after recent good gains, and this pause is not bearish.
Hogs: February lean hogs rose 92 1/2 cents to $84.775, nearer the daily high. Lean hog futures saw fresh technical buying today. The near-term chart posture for the market remains bullish as prices are in an uptrend.