Corn: July corn fell 9 cents to $4.33 1/2, marking the lowest close since Oct. 18. Corn futures kicked the week off in lackluster fashion, edging lower in tandem with wheat futures despite outside market support and strong weekly export inspections.
Soybeans: July soybeans closed 1 1/4 cents lower to $10.56. July meal inched 20 cents lower to $295.5. July bean oil sunk 12 points to 47.38 cents. Each saw just modest losses today. Soybeans saw relative strength compared to the flailing grain market today but struggled to break much above unchanged in old-crop futures.
Wheat: July SRW wheat fell 12 3/4 cents to $5.42, near the session low after hitting a six-week high overnight. July HRW wheat sunk 11 3/4 cents to $5.37 1/2, near the daily low after also hitting a six-week high overnight. July spring wheat futures slid 12 3/4 cents to $6.22 1/2. The winter wheat futures markets today saw some profit-taking pressure following recent good gains.
Cotton: July cotton rose 35 points to 65.97 cents and closed near the session high. Nearby cotton futures firmed modestly, hemmed by technical pressure despite supportive outside markets.
Cattle: August live cattle rose 37 1/2 cents to $219.25, nearer the session high and set another contract high. Nearby June live cattle closed up 70 cents at $226.75 and hit a record high of $227.875. August feeder cattle rose $1.50 to $311.65, near the daily high and hit a contract high and record high of $311.75. The cattle futures markets early on today saw normal pauses and mild profit-taking pressure from speculators amid their record-setting bull runs.
Hogs: July lean hog futures closed a dime higher at $107.20 and near mid-range, while deferred contracts saw stronger gains. Deferred hog futures continue to lead strength while nearby futures consolidate following recent strong gains.