Corn: July corn futures rose 5 3/4 cents to $4.69 1/4, near the daily high and hit a four-week high. The corn futures market saw short covering and technical buying featured today.
Soybeans: July soybeans rose 13 1/2 cents to $11.92, nearer the daily high and closed at a six-week high close. July soybean meal rose $8.70 to $327.80, nearer the daily high. July soybean oil gained 34 points to 71.67 cents, nearer the daily high. The soybean market today saw short covering and perceived bargain hunting as bulls are again working on producing a technically bullish upside “breakout” from a sideways trading range on the daily bar chart.
Wheat: July SRW rose 13 cents to $6.29 3/4, near the daily high and hit a four-week high. July HRW gained 5 1/2 cents to $6.75 1/4, nearer the daily high. July spring wheat futures rose 1 1/4 cents to $6.94 1/2. The HRW wheat futures markets today saw resumed technical buying interest after last Friday’s corrective pullback.
Cotton: July cotton futures rose 22 points to 79.58 cents, near mid-range. July cotton futures today saw some renewed technical buying today after recent profit-taking pressure.
Cattle: June live cattle rose $3.725 to $248.95, near the session high. May feeder cattle gained $6.55 to $367.45, nearer the daily high. The cattle futures markets today saw strong buying interest on perceived bargain hunting after the recent sell off that drove prices to three-week lows last week.
Hogs: June lean hog futures rose $0.275 to $102.175, nearer the daily low. The lean hog futures market saw tepid short covering and perceived bargain hunting featured today.