Corn: December corn futures fell 3 3/4 cents to $4.30 1/4, nearer the session low after hitting a four-month high overnight. The corn futures market early on today saw some consolidation from recent good price gains and then some late-session profit-taking from the shorter-term speculators.
Soybeans: January soybeans rose 13 1/4 cents to $11.07 3/4, nearer the session high and hit a 13-month high. December soybean meal rose $6.90 to $315.60, nearer the daily high and hit a seven-month high. December soybean oil fell 51 points to 49.65 cents, nearer the daily low and hit a five-week low early on. January soybeans today posted a big and bullish “outside day” up on the daily bar chart, to suggest the chart-based speculators will continue to aggressively pursue the long side in the near term.
Wheat: December SRW fell 8 cents to $5.24 1/4, nearer the daily low. December HRW lost 9 3/4 cents to $5.13, nearer the daily low. December spring wheat futures fell 10 cents to $5.50 1/2, near the daily low. The winter wheat futures markets saw profit-taking pressure from the shorter-term speculators today, after recent good gains.
Cotton: December cotton fell 89 points to 65.12 cents, near mid-range. December cotton futures today saw a familiar pattern that has developed over the past few months: A short string of strong gains followed by solid selling pressure that kills the fledgling uptrend.
Cattle: December live cattle rose 20 cents to $231.10 and near mid-range. January feeder cattle gained 20 cents to $334.225 and near mid-range. The live cattle futures markets today saw pauses after the recent steep price downdrafts.
Hogs: December lean hogs rose 5 cents to $80.825, near mid-range and hit a three-month low early on. The lean hog futures market saw tepid short covering today as the bulls work to stabilize prices following the recent selling pressure.