Corn: May corn futures rose 1 cent to $4.36 3/4, near mid-range. The corn futures market paused today after Tuesday’s losses. A higher U.S. dollar index today limited the upside for corn.
Soybeans: May soybeans rose 1/4 cent to $11.49, near mid-range after hitting a three-month high early on. May soybean meal fell $2.30 to $308.50, nearer the session low. May soybean oil gained 132 points to 59.08, nearer the daily high and hit a contract high. The soybean futures bulls were out of the gate strong overnight, but faded in the day session as the bulls now appear to be near-term exhausted.
Wheat: May SRW rose 10 cents to $5.52 1/2, near the daily high. May HRW rose 11 1/4 cents to $5.61 3/4, near the daily high. May spring wheat futures rose 5 cents to $5.85, nearer the daily high. The winter wheat futures markets today saw technical buying interest amid price uptrends in place on the daily bar charts.
Cotton: May cotton rose 12 points to 63.76 cents, near mid-range. The cotton futures market today saw mild short covering.
Cattle: April live cattle fell 27 1/2 cents to $242.525, near mid-range. March feeder cattle fell 40 cents to $370.575, near mid-range. The cattle futures markets paused at mid-week, following gains on Tuesday that pushed the markets to four-month highs.
Hogs: April lean hog futures rose 25 cents to $92.55, nearer the daily low. Lean hog futures today saw a pause following the recent steep sell off that has produced serious chart damage.