Corn: December corn futures fell 6 cents to $4.15 1/2, nearer the daily low and hit a four-week low. The corn futures market got a bearish USDA quarterly grain stocks report today that took away what little wind the bulls had left in their sails.
Soybeans: November soybeans fell 8 3/4 cents to $10.01 3/4, near the daily low and hit a six-week low. December soybean meal lost $2.10 to $273.30, near the daily low and closed at a contract low close. December soybean oil fell 20 points to 49.59 cents, nearer the daily low and closed at a 3.5-month low close. Soybeans saw spillover selling pressure from lower corn and wheat futures prices today, despite a slightly friendly USDA quarterly grain stocks report.
Wheat: December SRW wheat lost 11 1/2 cents to $5.08, near the session low and hit a contract low. December HRW fell 10 1/2 cents to $4.97 3/4, near the daily low and hit a contract low. Spring wheat futures fell 6 1/2 cents to $5.62 3/4. The winter wheat futures markets sold off following a bearish USDA quarterly grain stocks report today and solid losses in corn and soybeans.
Cotton: December cotton rose 27 points to 65.77 cents, near mid-range after hitting a six-month low early on. The cotton market saw some short covering in a bear market today, following Monday’s losses. Gains were limited by lower grain futures markets today.
Cattle: December live cattle rose 95 cents to $234.775, near the daily high. November feeder cattle gained $5.475 to $359.35 and near the daily high. The feeder cattle futures market showed very good strength today, while live cattle futures showed more modest strength.
Hogs: December lean hogs fell $1.625 to $88.725, near the session low. The lean hog futures market saw more routine profit-taking pressure following recent gains that saw December hogs hit a contract high last Friday.