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Corn: March corn futures fell 2 1/2 cents to $4.25 3/4, near mid-range. The corn futures market saw some technical selling pressure today as the price uptrend on the daily bar chart for March futures has been negated
Soybeans: March soybeans fell 4 cents to $10.60 1/4, nearer the session high after hitting a two-week low early on. March soybean meal rose $0.90 to $294.50, nearer the daily high. March soybean oil fell 31 points to 53.20 cents, nearer the daily high and hit a two-week low. The soybean and bean oil markets saw technical selling pressure today.
Wheat: March SRW fell 10 1/4 cents to $5.27 3/4, nearer the session low. March HRW lost 9 1/2 cents to $5.35 1/4, nearer the daily low. March spring wheat futures fell 6 3/4 cents to $5.71 1/2. The winter wheat futures markets today saw selling pressure amid solid gains in the U.S. dollar index and sharp losses in the crude oil futures market.
Cotton: March cotton fell 50 points to 62.67 cents, near mid-range and hit a contract low. The cotton futures market saw technical selling today, with some light short covering pulling prices up from their daily low.
Cattle: April live cattle rose $2.725 to $239.525, near mid-range and hit a three-month high. March feeder cattle gained $6.075 to $366.35, near mid-range and hit a three-month high. The live and feeder cattle futures markets saw solid gains and new for-the-move highs today on technical buying amid bullish charts, and on confirmation from last Friday’s semiannual U.S. cattle inventory report that the U.S. cattle herd is the smallest in 75 years.
Hogs: April lean hog futures rose $1.475 to $96.625, nearer the session high. Lean hog futures today saw solid technical buying to keep the price uptrend on the daily bar chart alive and well.