Corn: March corn futures fell 1 3/4 cent to $4.20 1/4, near the daily low. The corn futures market saw some more technical selling pressure today as buying interest is limited by a bearish chart posture and by this week’s dour USDA supply and demand data.
Soybeans: March soybeans rose 10 1/2 cents to $10.53, nearer the daily high. March soybean meal fell $2.80 to $289.10, near the daily low and hit a nearly two-month low. March soybean oil gained 199 points to 52.87 cents, near the daily high and hit a four-week high. The soybean and bean oil futures saw more covering today. Spreaders were featured buying bean oil and selling meal futures.
Wheat: March SRW fell 2 cents to $5.10 1/2 and near the session low. March HRW fell 5 cents to $5.17 1/4 and near the daily low. March spring wheat futures fell 4 1/2 cents to $5.62 1/2. The HRW futures markets saw some technical selling late today, with sharp losses in the crude oil market aiding the wheat bears
Cotton: March cotton fell 28 points to 64.71 cents, near the daily low. The cotton futures saw selling pressure today amid sharply lower crude oil prices.
Cattle: February live cattle rose 90 cents to $236.05, near the session high. March feeder cattle rose $4.87 to $364.55, near the session high and hit a 2.5-month high. The live and feeder cattle futures markets today saw the bulls step in to buy the mid-week dip as technical charts and fundamentals remain overall bullish.
Hogs: February lean hog futures rose $2.10 to $87.80, near the session high and hit a three-month high. Lean hog futures today saw more technical buying as buy stops were likely triggered just above last week’s high.