Corn: July corn futures rose 4 3/4 cents to $4.80, nearer the daily high. The corn futures market saw spillover buying interest after wheat futures prices soared following a bullish USDA monthly supply and demand report
Soybeans: July soybeans rose 13 3/4 cents to $12.26 3/4, nearer the daily high and hit a two-month high. July soybean meal rose $3.60 to $328.40, nearer the daily high and hit a two-week high. July soybean oil gained 162 points to 75.36 cents, near the daily high. The soybean market today saw spillover buying support from soaring wheat futures prices.
Wheat: July SRW rose the 45-cent daily limit to $6.79 and hit a 1.5-year high for the contract. July HRW gained the limit of 45 cents to $7.31 1/4 and hit a nearly three-year high for the contract. Both markets will see expanded 70-cent daily trading limits on Wednesday. September spring wheat futures rose 36 3/4 cents to $7.44 3/4. The winter wheat futures markets rocketed higher today after a very bullish USDA monthly supply and demand report.
Cotton: July cotton futures fell 145 points to 86.32 cents, near the daily low after hitting a contract high early on. Cotton futures saw heavy profit-taking pressure and some weak long liquidation today, after recent solid gains.
Cattle: June live cattle fell $1.70 to $247.70, near the daily low. August feeder cattle lost $5.75 to $356.55, near the daily low and closed at a six-week low close. The cattle futures markets saw profit-taking pressure and weak long liquidation today.
Hogs: June lean hog futures fell $1.80 to $98.425, near the daily low and hit a five-month low. The lean hog futures market saw renewed technical selling today. The near-term technical posture for June hogs remains firmly bearish as prices are in a downtrend on the daily bar chart.