Corn: December corn futures rose 5 1/2 cents to $4.28 3/4, nearer the session low and hit a four-month high early on. The corn futures market today saw good speculator buying interest following the weekend news that China and the U.S. are close to reaching a trade deal.
Soybeans: January soybeans rose 23 cents to $10.83 1/4, nearer the daily high and hit a 12-month high. December soybean meal rose $4.10 to $298.20, nearer the daily high and hit a nine-week high. December soybean oil rose 50 points to 50.77 cents, nearer the daily high. The soy complex futures today saw good speculator buying interest and short covering following the weekend news that the U.S. and China are very close to a trade agreement that would likely mean more China purchases of U.S. soybeans.
Wheat: December SRW rose 13 1/2 cents to $5.26, nearer the session high and hit a six-week high. December HRW gained 12 3/4 cents to $5.14 1/4, nearer the daily high and hit a six-week high. December spring wheat futures rose 3 1/4 cents to $5.60 1/4. The winter wheat futures markets bulls shifted into high gear today following news the U.S. and China are close to a trade deal that may include more U.S. wheat purchases from China.
Cotton: December cotton rose 36 points to 64.56 cents, nearer the daily low after hitting a three-week high early on. December cotton futures today saw better buying interest early on, following the weekend news that the U.S. and China are close to securing a trade deal that could mean more China purchases of U.S. cotton.
Cattle: December live cattle fell $6.75 to $227.175, nearer the daily low and hit a three-month low after trading down the expanded trading limit earlier today. January feeder cattle dropped the expanded daily trading limit of $13.75 to $334.425 and hit a 2.5-month low. Panic long liquidation and margin-call selling by the speculative futures traders were featured in the live and feeder cattle futures markets today.
Hogs: December lean hogs fell 40 cents to $81.50, nearer the daily low and hit a 2.5-month low. The lean hog futures market saw mild technical selling pressure today.