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Corn: March corn futures rose 3 1/2 cents to $4.30, near mid-range and hit a three-week high. The corn futures market saw short covering and fresh speculative buying today, as a price uptrend is in place on the daily bar chart.
Soybeans: March soybeans rose 7 3/4 cents to $10.75, near mid-range and hit a six-week high. March soybean meal rose $3.80 to $297.80, nearer the daily high. March soybean oil fell 10 points to 54.31 cents, nearer the daily low and hit a four-month high early on. The soybean and meal markets today saw short covering and perceived bargain hunting.
Wheat: March SRW gained 12 3/4 cents to $5.36, nearer the session high and hit a seven-week high. March HRW rose 9 1/2 cents to $5.42 1/4, nearer the daily high and hit a nine-week high. March spring wheat futures rose 2 1/4 cents to $5.74, near mid-range. The winter wheat futures markets today saw short covering and perceived bargain hunting today.
Cotton: March cotton fell 10 points to 63.73 cents, near the daily low. The cotton futures market saw mild short covering early on today but could not hold those gains into the close.
Cattle: April live cattle rose $1.325 to $238.725, near the session high. March feeder cattle gained $3.85 to $365.85, near the session high and hit a three-month high. The live and feeder cattle futures markets saw renewed chart-based buying from the speculators today, and amid supply and demand fundamentals that remain solid.
Hogs: April lean hog futures lost $1.675 to $95.15, nearer the session low. Lean hog futures today saw profit-taking pressure after hitting a contract high on Tuesday.