Corn: September corn fell 5 1/2 cents to $3.98, a new contract low close, while December corn fell 6 1/2 cents to $4.14 1/4. Corn futures dove to fresh contract lows, driven by improving crop conditions and a firmer U.S. dollar.
Soybeans: August soybeans fell 10 1/4 cents to $10.21 1/4, a near mid-range close, while August soymeal fell $1.50 to $270.70. August soyoil rose 17 points to 54.11 cents. Soybeans extended Monday’s selloff amid technical selling, with meal extending to a more than nine-year low on the continuous chart.
Wheat: December SRW wheat fell 1 3/4 cents to $5.68 1/2, near mid-range. The December HRW wheat fell 4 3/4 cents to $5.47 1/4, nearer the daily low and hit a seven-week low. December spring wheat futures fell 8 cents to $6.49. The winter wheat futures markets continue to get pulled down by the recent selling pressure in the corn and soybean markets, which saw December corn hit a fresh contract low today.
Cotton: December cotton fell 51 points to 67.38 cents, a more than two-week low close. Cotton futures extended losses for a third straight session amid technical selling and pressure from a firmer U.S. dollar.
Cattle: August live cattle rose $4.075 to $219.975, near the daily high and hit a contract/record high. August feeder cattle rose $5.40 to $319.125, near the session high and also hit a contract/record high. The cattle futures bulls continue to flex their muscles amid a very strong resurgence from the June lows.
Hogs: August lean hogs fell 32 1/2 cents to $106.775, nearer the session low. The lean hog futures market today saw some mild chart-based selling pressure, but losses were limited by sharp gains in the cattle futures markets.