Corn: July corn futures closed steady at $4.59 1/2, near mid-range. The corn futures market saw limited buying interest today as weather in most of the Corn Belt still leans price-bearish.
Soybeans: July soybeans rose 2 1/4 cents to $10.62 1/2, while July meal rose 10 cents to $296.30, each ending well off the session highs. July soyoil rose 22 points to $49.57 cents.Soybeans eased from overnight strength as the session progressed as selling across the grain complex crimped buyer interest. Meanwhile, President Trump’s postponement of tariffs against the European Union heightened the risk appetite in the general marketplace, which sent equities and the U.S. dollar rocketing higher and ultimately cast a shadow over commodities.
Wheat: July SRW futures slid 14 cents to $5.28 1/2 and closed near session lows. July HRW futures plunged 14 1/4 cents to $5.24 1/4. July spring wheat futures fell 10 1/4 cents to $5.96 1/4. Wheat futures saw heavy selling today despite an improved attitude across the general marketplace.
Cotton: July cotton fell 54 points to 65.57 cents, just shy of the session low. Cotton futures weakened modestly to start the shortened trading week but held a range within recent consolidation as technical pressure continues to crimp buyer interest.
Cattle: June live cattle futures fell 67.5 cents to $215.125 but closed nearer session highs. August feeders slid $2.225 and settled near mid-range. Cattle futures favored the downside today but ended the day well off of session lows.
Hogs: June lean hogs rose 80 cents to $99.10, near the daily high. Not a bad start to the U.S. holiday-shortened trading week for the lean hog futures bulls, as price action reversed early-session losses to close with moderate gains and score a technically bullish outside-day up.