Corn: December corn futures rose 4 1/4 cents to $4.24, nearer the session high. The corn market bulls continue to show some signs of life at mid-week, as prices have posted gains every day this week.
Soybeans: August soybeans rallied 18 3/4 cents to $10.20 1/2, ending just shy of the session high, while August soymeal rose $3.10 to $268.40. August soyoil rose 26 points to 54.82 cents. Short-covering meal strength fueled a midweek rally in soybeans after bears scored just short of a 90-cent selloff from the June 20 high to this week’s low.
Wheat: December SRW wheat gained 3 cents to $5.61 3/4, near the high end of today’s trading range. December HRW wheat fell 3/4 cent to $5.45 1/4, whileDecember spring wheat futures closed 1 1/4 cents lower at $6.19 1/2. Wheat futures were mixed today, not seeing the stronger gains made in the other major grains.
Cotton: December cotton fell 3 points to 68.56 cents, near the daily high. The cotton market bulls have shown some strength this week but need to keep it up to suggest a price uptrend can be sustained.
Cattle: August live cattle rose $1.50 to $223.90, nearer the daily high and hit a contract/record high. August feeder cattle rose $3.30 to $325.575, near the session high. The cattle futures market bulls continue to exhibit buying interest at historically elevated price levels.
Hogs: August lean hogs rose 50 cents to $104.425, but ended near the session low. August lean hogs gapped higher at the open but were limited by technical resistance and ultimately marked a low-range close.