Corn: May corn futures fell 1/4 cent to $4.67, nearer the daily high. The corn futures market today saw mild corrective selling pressure following Wednesday’s decent gains. Higher crude oil prices today did limit the downside in corn.
Soybeans: May soybeans rose 2 cents to $11.73 3/4, near mid-range. May soybean meal gained $2.30 to $322.10, nearer the daily high. May soybean oil rose 92 points to 68.02 cents, near the daily high and hit a two-week high. The soybean futures today saw some mild short covering and perceived bargain hunting.
Wheat: May SRW rose 7 1/4 cents to $6.05, near the daily high. May HRW gained 9 cents to $6.26 3/4, near the session high. May spring wheat futures rose 4 1/4 cents to $6.45, near the daily high. The winter wheat futures markets saw more short covering and perceived bargain hunting today.
Cotton: May cotton futures rose 123 points to 69.41 cents, nearer the session high and hit a 5.5-month high. The cotton futures market today saw technical buying, including buy stops being triggered just above last week’s highs.
Cattle: April live cattle rose $0.675 to $235.10, near the daily high. May feeder cattle gained $1.70 to $351.75, near the session high and closed at a three-week high close. The cattle futures markets paused most of today’s session, but then the chart-based bulls stepped up late to push prices higher.
Hogs: April lean hog futures fell $0.075 to $90.825, near mid-range and closed at a nine-week low close. The lean hog futures market paused today. Bulls remain timid amid a price downtrend in place on the daily chart.