Corn: March corn futures fell 3 3/4 cents to $4.44 1/4, nearer the daily low. The corn futures market remains trapped in a sideways and choppy trading range, suggesting more of the same in the near term.
Soybeans: January soybeans rose 4 cents to $10.91 1/4, nearer the session high and hit a five-week low early on. January soybean meal lost 10 cents to $301.20, nearer the daily high and hit a five-week low early on. January soybean oil rose 7 points to 51.09 cents, near mid-range. The soybean market today saw tepid short covering and a bit of perceived bargain buying from the speculators.
Wheat: March SRW fell 5 cents to $5.29 1/2, near mid-range and hit a six-week low. March HRW lost 3 3/4 cents to $5.23 1/4, near mid-range. March spring wheat futures fell 1 cent to $5.75 1/4. Winter wheat markets today saw technical selling pressure from the speculators as the near-term chart postures in SRW and HRW are bearish.
Cotton: March cotton rose 26 points to 64.12 cents, nearer the session high. Cotton futures saw short covering today. Gains were somewhat limited by mostly lower grain futures prices.
Cattle: February live cattle rose $1.575 to $228.525, near the daily high and poked to another five-week high. January feeder cattle rose $2.875 to $338.375, near mid-range. The cattle futures markets today saw more chart-based buying from the speculators, as the near-term technical postures have turned bullish.
Hogs: February lean hogs rose 55 cents to $82.425, near mid-range. Lean hog futures saw some modest technical buying today as the near-term chart posture for the market has turned bullish.