Corn: March corn futures fell 2 cents to $4.21 3/4, nearer the daily low. The corn futures market saw some technical selling pressure today and lost decent overnight gains.
Soybeans: March soybeans rose 11 1/2 cents to $10.64 1/2, nearer the daily high. March soybean meal fell 20 cents to $291.40, near the daily low. March soybean oil gained 145 points to 54.01 cents, nearer the daily high and hit a four-month high. The soybean market saw good short covering and some perceived bargain buying.
Wheat: March SRW fell 2 1/2 cents to $5.07 3/4, near the session low and closed at a two-week low close. March HRW lost 3 1/4 cents to $5.19 3/4 and near the daily low. March Spring wheat futures gained 1 3/4 cents to $5.63 3/4, nearer the daily low. The HRW futures markets saw more technical selling pressure today.
Cotton: March cotton fell 4 points to 64.30 cents, near mid-range. The cotton futures market paused today but the bears still have some momentum on their side.
Cattle: February live cattle rose 72 1/2 cents to $233.10, nearer the session high. March feeder cattle rose $1.70 to $359.375, nearer the session high. The live and feeder cattle futures markets saw some chart-based buying today as the bulls have stabilized prices after last Friday’s NWS-inspired sell off.
Hogs: February lean hog futures closed steady at $87.85, near mid-range. Lean hog futures today saw a pause after hitting a 3.5-month high on Tuesday.