Corn: March corn futures rose 1 cent to $4.30, near mid-range. The corn futures market saw some more short covering today. Buying interest was also supported by a rally in the soybean complex.
Soybeans: March soybeans rose 26 1/2 cents to $10.92 1/4, near mid-range and hit a nearly two-month high. March soybean meal gained $4.30 to $296.20, near mid-range and hit a three-week high. March soybean oil gained 117 points to 55.66 cents, nearer the session high and hit a 5.5-month high. The soybean and bean oil markets saw solid buying interest today, much of which was short covering, on the surprise news of positive talks between President Trump and Chinese President Xi Jinping.
Wheat: March SRW fell 2 cents to $5.26 3/4, near mid-range. March HRW lost 4 1/2 cents to $5.30 1/4, nearer the daily low. March spring wheat futures fell 2 1/4 $5.66, nearer the daily low. The winter wheat futures markets today saw some technical selling pressure. Bulls were disappointed that higher corn and soybean prices today could not pull wheat prices above unchanged.
Cotton: March cotton fell 7 points to 62.24 cents, nearer the daily low and closed at a contract-low close. The cotton futures market paused today. The technical posture for cotton futures remains firmly bearish, which is keeping the chart-based bulls on the sidelines.
Cattle: April live cattle rose 17 1/2 cents to $241.80, nearer the session low and hit a 3.5-month high early on. March feeder cattle gained $2.15 to $370.075, near mid-range and hit a three-month-high. The live and feeder cattle futures markets saw more mild to moderate chart-based buying from the speculators today, amid bullish technicals and solid cash market fundamentals, too.
Hogs: April lean hog futures rose 30 cents to $98.45, nearer the session low and hit a contract high early on. Lean hog futures today saw some profit-taking pressure after hitting a new contract high.