Corn: December corn fell 2 cents to $4.80 3/4, near mid-range for the day. The corn futures market saw modest technical selling pressure today. Big gains in the U.S. dollar index today to a 1.5-year high also limited the upside in corn. Combines in the Corn Belt are running in high gear, which is also prompting better commercial hedge pressure on corn futures.
Soybeans: November soybeans fell 6 1/2 cents to $12.77 1/4, nearer the daily low. December soybean meal rose $1.30 to $364.50, near the daily high. December soybean oil lost 96 points to 67.06 cents, nearer the daily low and hit a two-week low. The soybean market bulls were sorely disappointed today that prices sold off following news USDA reported daily sales of 470,000 MT of U.S. beans to China during 2026-27.
Wheat: December SRW rose 4 cents to $6.73 1/4, near the daily high. December HRW rose 2 3/4 cents to $7.15, near the daily high and hit another three-month low early on. December spring wheat futures fell 4 cents to $6.90, near mid-range. The winter wheat futures markets saw short covering amid choppy trading again today. Prices remain trapped in downtrends on the daily bar charts. A strong U.S. dollar index that today hit a 1.5-year high did limit buying interest in wheat futures.
Cotton: December cotton futures rose 15 points to 80.66 cents, nearer the daily low and hit a nearly three-week high. Cotton futures saw modest short covering and perceived bargain hunting today from the chart-based specs. The near-term technical posture for cotton futures has turned more bullish this week.
Cattle: December live cattle fell $1.25 to $225.125, near the daily low. November feeder cattle lost $2.575 to $338.45, near the daily low. The live and feeder cattle futures markets saw corrective price pullbacks and profit taking again at mid-week. Prices have paused so far this week but the pauses are not unhealthy for up-trending markets.
Hogs: December lean hog futures fell $1.95 to $66.075, near the daily low and hit a contract low. The lean hog futures market saw strong technical selling pressure today. Overall, charts are still bearish, highlighted by a downtrend that remains in place on the daily bar chart. However, the market is now short-term oversold and due for at least a corrective bounce soon.