Corn: July corn futures slumped 13 1/4 cents to $4.67 1/2, nearer the daily low. The corn futures market saw heavy profit-taking pressure and weak long liquidation from the shorter-term traders today.
Soybeans: July soybeans fell 36 1/2 cents to $11.92 1/2, nearer the daily low and hit a three-week low. July soybean meal lost $6.00 to $332.50, nearer the daily low. July soybean oil lost 66 points to 73.66 cents, near mid-range and hit a three-week low. The soybean market today saw heavy profit-taking and weak long liquidation today, following what is so far disappointing news for soybeans coming out of the Trump-Xi meeting in China.
Wheat: July SRW fell 17 1/2 cents to $6.58, nearer the daily low and early on hit a 1.5-year high for the contract. July HRW fell 19 1/2 cents to $7.05 1/4, nearer the daily low. September spring wheat fell 17 3/4 cents to $7.23. The winter wheat futures markets today were hit with heavy profit-taking pressure from the shorter-term speculators, as well as weak long liquidation from the specs that had just recently climbed on board the long sides.
Cotton: July cotton futures fell 287 points to 83.94 cents, nearer the daily low. Cotton futures saw heavy profit-taking pressure from the shorter-term traders today, as well as weak long liquidation.
Cattle: June live cattle fell $0.725 to $252.075, near the daily low. August feeder cattle fell $2.925 to $358.00, near the daily low. The cattle futures markets saw corrective pullbacks today, following Wednesday’s good gains.
Hogs: June lean hog futures fell $1.35 to $99.525, near the daily low. The lean hog futures market saw a downside correction today following good gains posted on Wednesday.