Corn: March corn closed unchanged at $4.28 3/4, near mid-range. The corn futures market saw some mild technical buying and short covering early on today, but by the close those gains were given up.
Soybeans: March soybeans rose 11 3/4 cents to $11.22 1/2, near the session high and closed at a nine-week high close. March soybean meal gained $3.00 to $300.80, nearer the session high. March soybean oil rose 58 points to 57.27 cents, near the session high and hit a contract high. The soybean complex today saw some perceived bargain buying from the speculators, with soybean oil continuing to get fuel from ideas of better U.S. bean oil exports to Asian countries.
Wheat: March SRW fell 1/2 cents to $5.28 1/4, nearer the daily high. March HRW rose 1 3/4 cents to $5.30 1/2, near mid-range. March spring wheat futures fell 2 1/4 cents to $5.68 1/4. The winter wheat futures markets today saw more price consolidation as both markets are trapped in trading ranges.
Cotton: March cotton fell 2 points to 61.59 cents, near the daily low. The cotton futures market saw mild short covering early on today, after hitting a contract low last Friday.
Cattle: April live cattle fell 77 1/2 cents to $237.425, nearer the daily low. March feeder cattle lost $2.675 to $364.775, nearer the session low. The live cattle and feeder cattle futures markets saw some profit-taking pressure today.
Hogs: April lean hog futures fell $1.225 to $95.50, near the session low. Lean hog futures today saw more profit-taking pressure from the shorter-term traders, as well as some fresh short-selling from the technical traders.