Corn: July corn rose 3 cents to $4.48 1/2, a high-range close. Nearby corn futures posted back-to-back gains for the first time since late-April amid short-covering efforts following a 61-cent selloff from the April high.
Soybeans: July soybeans plunged 26 1/2 cents to $10.51 1/4 and closed nearer session lows. July meal climbed $4.50 to $296.40, near mid-range. July bean oil closed limit lower, down 300 points at 49.32 cents. Soybeans fell under heavy selling pressure today as weakness in soyoil undercut the market.
Wheat: July SRW wheat rose 8 cents to $5.32 3/4, near the session high. July HRW wheat gained 5 1/4 cents to $5.28 1/4, near the daily high. July spring wheat futures closed 3 cents higher at $5.80. The winter wheat futures markets today saw more short covering and perceived bargain hunting after hitting contract lows earlier this week.
Cotton: July cotton slipped 5 points to 65.43 cents and closed near mid-range. Cotton futures have worked lower for seven out of the last eight sessions, breaking the uptrend from the early April low.
Cattle: June live cattle fell $2.775 to $211.175, near the session low and hit a two-week low. August feeder cattle fell $6.15 to $295.825, near the session low and hit a two-week low. The cattle futures markets saw more heavy profit-taking pressure today following a major bull run to record highs in recent trading sessions.
Hogs: June lean hogs surged $1.85 to $100.70 and closed near session highs. Lean hog futures broke out higher on the daily bar chart today as strength in cash fundamentals has helped boost futures.