Corn: March corn futures rose 2 3/4 cents to $4.46 3/4, nearer the session high. The corn futures market saw fresh technical buying today as prices appear to be trending toward the upper portion of a well-defined trading range.
Soybeans: March soybeans rose 10 3/4 cents to $10.67 and nearer the daily high. March soybean meal gained $5.90 to $305.40, near the daily high. March soybean oil fell 9 points to 49.31 cents, near the daily low. The soybean complex futures today saw more short covering and perceived bargain hunting, with the speculative bean bulls also impressed by the good gains in meal futures today.
Wheat: March SRW rose 7 1/2 cents to $5.18 and nearer the daily high. March HRW gained 10 cents to $5.31 1/2, near the daily high. March spring wheat futures rose 3 1/4 cents to $5.70 1/2, nearer the daily low. The winter wheat futures markets saw some more short covering and perceived bargain buying today.
Cotton: March cotton fell 21 points to 64.85 cents, near the daily low. Cotton futures today saw a corrective pullback from this week’s gains.
Cattle: February live cattle fell $2.10 to $234.525, nearer the daily low. March feeder cattle lost $3.525 to $355.50, nearer the session low. The cattle futures markets today saw profit-taking pressure from the speculative traders, following recent gains that pushed the markets to 10-week highs.
Hogs: February lean hog futures fell 87 1/2 cents to $84.80, nearer the session low. Lean hog futures today saw routine profit-taking pressure after prices hit a 2.5-month high on Friday.