Corn: July corn futures fell 2 3/4 cents to $4.57 3/4, nearer the daily low. The corn futures market saw some corrective selling pressure today following Wednesday’s good gains.
Soybeans: July soybeans fell 2 3/4 cents to $11.80 1/2, near the daily low. July soybean meal fell $3.10 to $328.10, nearer the daily low. July soybean oil rose 174 points to 69.05 cents, nearer the daily high. The soybean market today saw some chart consolidation and a mild corrective pullback from Wednesday’s gains.
Wheat: July SRW rose 4 3/4 cents to $6.06 1/2, near mid-range. July HRW gained 16 1/2 cents to $6.55, nearer the session high and hit a 13-month high. July spring wheat futures rose 12 3/4 cents to $6.67, nearer the daily high. The winter wheat futures markets saw more technical buying interest and short covering today amid a weather market that has developed, especially in HRW futures.
Cotton: July cotton futures rose 71 points to 78.13 cents, nearer the daily high and hit another nearly two-year high. The cotton futures market saw more technical buying featured today. Better risk appetite in the general marketplace recently, as well as a weaker U.S. dollar index recently, have supported buying interest in cotton futures.
Cattle: June live cattle fell $3.45 to $247.625, nearer the daily low. May feeder cattle fell $3.85 to $367.10, nearer the daily low. The cattle futures markets saw heavy, follow-through profit-taking selling pressure today amid reports of weaker cash cattle trading taking place.
Hogs: June lean hog futures fell $0.275 to $101.675, near mid-range and hit another more-than-three-month low. The lean hog futures market saw a pause today as technical selling pressure let up, at least today.