Corn: July corn futures fell 3 cents to $4.16 1/4, near the session low and hit a contract low. “Rain makes grain” is the bearish mantra pervading the corn futures market at present.
Soybeans: July soybeans fell 12 cents to $10.46 ¾, just shy of the session low, while November futures fell 9 3/4 cents to $10.37. July meal fell $1.90 to $280.50, another contract low-close, while July soyoil dove 107 points to 52.17 cents. Soybeans extended Monday’s losses amid diving crude oil futures and as broad uncertainty continued to hover over commodities.
Wheat: September SRW futures plunged cents to 17 cents $5.35 3/4, while September HRW futures skid 15 /4 cents to $5.34 3/4. July HRS futures fell 1 3/4 cent to $6.25. Wheat futures led the downside today, undergoing sharp selling pressure for the third consecutive session.
Cotton: July cotton rose 205 points to 66.01 cents, the highest close since June 3. December cotton gained 38 points to 67.79 cents. Nearby July cotton surged in solid “turnaround Tuesday” fashion, with support from a weaker U.S. dollar and notable strength in equities. Today was first-notice day for July cotton.
Cattle: st live cattle futures inched 17.50 cents higher to $209.55, while August feeder cattle futures slid 55 cents to $302.25. Cattle futures saw a volatile day of trade, caught between technical support and resistance.
Hogs: August lean hogs fell $2.10 to $110.95, near the session low. The hog futures market today saw profit-taking pressure from the speculators after prices last week hit a contract high.