Corn: December corn fell 5 3/4 cents to $5.27 3/4, near the daily low. The corn futures market saw more profit-taking pressure from the shorter-term speculators today. Losses in the wheat futures markets spilled over into some selling in corn futures. The corn bulls appear tired and may need a fresh, bullish fundamental spark.
Soybeans: November soybeans fell 6 3/4 cents to $13.09 1/2, nearer the daily low. December soybean meal rose $1.60 to $351.40, nearer the daily high. December soybean oil fell 13 points to 70.57 cents, near mid-range. The soybean market today saw modest profit-taking from recent gains. Sellers remain timid amid recent good demand from China and more today. USDA this morning reported daily sales of 340,000 MT of U.S. soybeans to China and 100,000 MT to unknown destinations during 2026-27.
Wheat: December SRW fell 18 1/4 cents to $7.28 3/4, near the daily low and hit a two-week low. December HRW lost 12 3/4 cents to $8.06 1/4, nearer the daily low. December spring wheat futures fell 6 cents to $7.48, near the daily low. The winter wheat futures markets saw selling pressure from profit taking among the shorter-term futures traders. Selling also was credited to news reports Russian President Putin now says he wants peace talks to resume.
Cotton: December cotton futures rose 96 points to 87.28 cents, nearer the daily high. Cotton futures saw some perceived bargain hunting today. Still, recent losses are beginning to suggest the bulls are exhausted and that a near-term market top is in place.
Cattle: October live cattle fell $1.175 to $215.85, near mid-range and hit a two-week high early on. November feeder cattle rose $0.90 to $321.35, nearer the daily high and hit a three-week high. The live cattle futures market today saw a corrective pullback from Tuesday’s solid gains, while feeder futures saw a pause and some chart consolidation. October live cattle futures continue to trade at a discount to the cash cattle market, which is also supportive for futures.
Hogs: October lean hog futures fell $1.175 to $83.075, near mid-range. The lean hog futures market saw a corrective pullback and profit taking following Tuesday’s good gains. There are still near-term technical clues that lean hog futures have put in a price bottom.