Corn:July corn futures fell 11 1/2 cents to $4.68 1/2, nearer the daily low. The corn futures market saw strong follow-through selling pressure today following losses on Tuesday.
Soybeans: July soybeans lost 16 3/4 cents to $11.94 3/4, nearer the daily low. July soybean meal fell $3.10 to $317.30, near the daily low. July soybean oil lost 189 points to 75.02 cents, nearer the daily low. The soy complex today saw selling pressure from the big drop in crude oil prices that spooked much of the raw commodity sector.
Wheat: July SRW fell 10 1/2 cents to $6.17 1/4, near mid-range. July HRW lost 3 cents to $6.87, nearer the daily high. July spring wheat futures fell 4 cents to $6.92, near the daily high. The HRW wheat futures markets today saw more profit-taking pressure and weak long liquidation following recent gains.
Cotton: July cotton futures fell 75 points to 84.05 cents and nearer the daily high. July cotton futures today saw some profit-taking pressure from recent gains, and also some selling related to the big drop in crude oil prices today.
Cattle: June live cattle rose $0.25 to $253.475, near mid-range. August feeder cattle gained $0.575 to $372.40, nearer the daily low. The live cattle futures markets bulls are back in business at mid-week, following Monday’s losses.
Hogs: June lean hog futures fell $1.725 to $99.70, nearer the daily low and closed at a 4.5-month low close. The lean hog futures market saw technical selling kick in again today. The near-term chart posture for June hogs has deteriorated to suggest still more selling from the speculators in the near term.