Corn: December corn futures rose 5 cents to $4.21 3/4, nearer the daily high. The corn futures market bulls once again pulled a rabbit out of their hat as prices have made a strong recovery from a six-week low scored earlier this week.
Soybeans: November soybeans rose 4 1/4 cents to $10.10 3/4, near mid-range. December soybean meal rose $1.00 to $276.90, near the daily high. December soybean oil rose 7 points to 50.87 cents, near the daily low and hit a four-week high early on. The soy complex futures today saw more short covering and perceived bargain buying from the speculators after soybeans Tuesday hit a two-week low.
Wheat: December SRW rose 3 3/4 cents to $5.02 1/2, nearer the session high. December HRW gained 1/2 cent to $4.88 3/4, nearer the daily high. December spring wheat futures fell 1 1/2 cents to $5.49 1/2, nearer the daily low. The winter wheat futures markets saw short covering and bargain hunting from the speculators today.
Cotton: December cotton fell 3 points to 63.73 cents, nearer the daily high. December cotton futures early on today saw more tepid short covering from the speculators after prices Tuesday hit a contract low.
Cattle: December live cattle rose $1.10 to $247.875, nearer the daily high and hit another contract high. November feeder cattle rose 27 1/2 cents to $380.95, near mid-range. December live cattle futures have now closed higher for 10 sessions in a row. Prior to yesterday, November feeders had closed higher for eight sessions in a row.
Hogs: December lean hogs fell $1.00 to $82.60, near the daily low and hit a seven-week low. The lean hog futures market saw more technical selling pressure from the shorter-term speculative traders today amid firmly bearish near-term technical posture and eroding cash hog prices.