Corn: December corn futures fell 3 1/2 cents to $4.06, nearer the daily low. The corn futures market saw pressure from slumping winter wheat market prices and a firmer U.S. dollar index for most of today.
Soybeans: November soybeans fell 2 cents to $10.47 1/2, nearer the daily low. September soybean meal fell $4.10 to $293.10, nearer the daily low. September soybean oil fell 29 points to 52.47 cents, near mid-range. The soybean market paused today, while meal futures saw some profit-taking pressure from recent gains.
Wheat: December SRW wheat fell 7 1/2 cents to $5.24 1/4, near the daily low. December HRW wheat fell 4 3/4 cents to $5.13, nearer the session low and hit another contract low. December spring wheat futures fell 13 cents to $5.76 3/4. The winter wheat futures markets saw more technical selling pressure from the speculators today, amid fully bearish charts.
Cotton: December cotton fell 3 points to 66.68 cents, near mid-range and hit a two-week low. The cotton market paused today following Tuesday’s selling pressure that gave the bears fresh downside technical momentum.
Cattle: October live cattle rose $1.325 to $239.525, near mid-range after hitting another contract high early on. September feeder cattle rose 35 cents to $365.40, nearer the daily low and hit a contract/record high early on. The live and feeder cattle futures markets continue to surge to contract/record highs on technical buying from the speculators and due to the spec bears being scared to step in and short the markets.
Hogs: October lean hogs rose 47 1/2 cents to $93.90, nearer the daily low and hit a two-month high early on. The lean hog futures market is surging this week on technical buying from the chart-based speculators and due to the soaring live and feeder cattle futures markets that are at record highs.