Corn: July corn futures rose 5 1/2 cents to $4.85 3/4, nearer the daily high and closed at a 52-week high close. The corn futures market saw technical buying featured today as prices are trending up on the daily bar chart.
Soybeans: July soybeans gained 19 1/2 cents to $12.22 3/4, near the daily high and hit a seven-week high. July soybean meal rose $1.60 to $320.90, near mid-range. July soybean oil gained 137 points to 76.53 cents, nearer the daily high and hit yet another contract high. The soybean market today saw strong chart-based buying featured as prices finally posted a strong upside technical breakout from the recent sideways and choppy trading range, likely setting off a fair amount of pre-placed buy stop orders.
Wheat: July SRW rose 3 1/4 cents to $6.41, nearer the daily high. July HRW closed steady at $6.94 1/2, nearer the daily high. July spring wheat futures fell 4 1/2 cents $6.99 1/2, near mid-range. The HRW wheat futures markets today saw a pause and some more profit taking and chart consolidation following recent gains.
Cotton: July cotton futures fell 127 points to 82.92 cents, nearer the daily low and hit a contract high early on. July cotton futures today saw routine profit-taking pressure following the strong gains seen late last week.
Cattle: June live cattle fell $1.25 to $251.75, nearer the daily high. August feeder cattle lost $4.80 to $366.60, nearer the daily low. The cattle futures markets saw what is so far routine profit-taking pressure from recent solid gains.
Hogs: June lean hog futures fell $1.525 to $99.75, near the daily low and hit a 4.5-month low. The lean hog futures market saw more technical selling pressure today as the near-term chart posture for June hogs has deteriorated.