Corn: December corn rose 9 1/2 cents to $4.84 3/4, nearer the daily high and hit a seven-week high. The corn futures market today saw more speculator and technical buying interest as a heat wave persists in the Plains and far western Corn Belt.
Soybeans: November soybeans rose 16 1/4 cents to $12.39, nearer the daily high and hit a 3.5-year high. September soybean meal rose $5.30 to $329.60, nearer the daily high and hit an eight-month high. September soybean oil rose 112 points to 74.53 cents, near the daily high and closed at a six-week high close. The soybean market saw solid technical buying interest from the specs today, as well as strong buying support as weather in the Midwest is heating up and somewhat drying out for late July. Recent China demand for U.S. soybeans is also bullish.
Wheat: September SRW rose 27 3/4 cents to $7.05 3/4, near the daily high and hit a contract high. September HRW rose 30 1/2 cents to $7.63 1/2, nearer the daily high and also hit a contract high. September spring wheat futures rose 24 3/4 cents to $7.29. The winter wheat futures markets saw solid technical buying amid bullish near-term charts. Fundamentally, concerns about global grain supplies amid tensions in the Black Sea and Middle East are prompting buying interest across many commodities
Cotton: December cotton futures rose 69 points to 81.11 cents, nearer the daily high. Cotton futures today saw more technical buying today to keep the price uptrend alive on the daily bar chart. Better risk appetite in the general marketplace this week is also a positive for the cotton market.
Cattle: August live cattle fell $3.475 to $223.20, near the daily low and hit a nearly five-month low. August feeder cattle lost $8.375 to $341.175, near the daily low and hit a six-week low. The live cattle futures markets today saw technical selling kick in again, after a brief respite earlier this week.
Hogs: August lean hog futures fell $0.05 to $101.45, nearer the daily low. The lean hog futures market paused today from recent good gains amid a price uptrend in place on the daily bar chart. Bulls have been encouraged by rising cash hog prices.