Corn: December corn futures rose 2 3/4 cents to $4.21 3/4, near the session high. The corn futures market today saw some short covering and perceived bargain buying from the speculators.
Soybeans: November soybeans fell 1/4 cent to $10.17 3/4, near mid-range. December soybean meal fell $1.50 to $277.10, nearer the daily low. December soybean oil rose 33 points to 50.38 cents, nearer the daily high. Soybean complex saw some chart consolidation today, with buying interest limited by a higher U.S. dollar index to start the trading week.
Wheat: December SRW wheat fell 2 1/2 cents to $5.12 3/4, near the daily low. December HRW lost 1 1/2 cents to $4.95 1/2, nearer the daily low. December spring wheat futures fell 3 1/4 cents to $5.56 1/2. The winter wheat futures markets saw mild technical selling pressure today.
Cotton: December cotton fell 16 points to 65.14 cents, nearer the daily low. The cotton market continues to languish at lower price levels. Bulls remain very timid as the near-term technical posture for cotton is firmly bearish.
Cattle: December live cattle rose $2.175 to $236.675, nearer the daily high. November feeder cattle rallied $5.375 to $360.80 and near the daily high. Both markets closed at two-week high closes. The live and feeder cattle futures markets bulls today showed they still have staying power, as they posted good gains for a second session in a row.
Hogs: December lean hogs fell 2 1/2 cents to $87.275, nearer the session high. The lean hog futures market paused today as bulls are working to stabilize prices after last week’s downdraft that produced near-term technical damage to suggest a market top is in place.