Corn: March corn futures fell 1 1/4 cents to $4.27 1/2, near mid-range. The corn futures market saw modest technical selling pressure featured today, as a price uptrend on the daily bar chart was negated in March futures.
Soybeans: March soybeans rose 1 1/2 cents to $11.24, nearer the session high and closed at a nine-week high close. March soybean meal gained $2.20 to $303.00, near the session high. March soybean oil fell 22 points to 57.05, near mid-range and hit a contract high early on. The soybean complex today saw a mild rebound late, on technical buying.
Wheat: March SRW rose 9 cents to $5.37 1/4, near the daily high. March HRW gained 8 cents to $5.38 1/2, near the session high. March spring wheat futures rose 2 cents to $5.70 1/4. The winter wheat futures markets today saw short covering and perceived bargain hunting from the speculators.
Cotton: March cotton rose 40 points to 61.99 cents, nearer the session high. The cotton futures market saw more short covering today, as well as some perceived bargain buying from the speculators. Gains in cotton were limited by a higher U.S. dollar index today.
Cattle: April live cattle rose $3.55 to $240.975, near the daily high. March feeder cattle gained $2.675 to $367.45, nearer the session high. The cattle futures markets bulls needed to show strength after fading a bit, and they did just that today, to regain some momentum.
Hogs: April lean hog futures fell $1.65 to $93.85, near the session low and hit a three-week low. Lean hog futures today saw more profit-taking and technical selling pressure from the shorter-term traders.