Corn: December corn futures fell 6 3/4 cents to $4.23 1/4, nearer the daily low. The corn futures market bulls sputtered today and gave back most of Friday’s solid gains that saw prices hit a seven-week high.
Soybeans: November soybeans lost 3 1/2 cents to $10.42 3/4, nearer the daily low. December soybean meal fell $2.90 to $285.70, nearer the daily low. December soybean oil rose 9 points to 52.26 cents, nearer the session low. The soybean futures market quickly erased overnight losses on reports the U.S. and China are making good progress on high-level trade talks in Madrid, Spain.
Wheat: December SRW wheat rose 1 1/2 cents to $5.25, near mid-range. December HRW lost 3/4 cent to $5.14, nearer the session low. December spring wheat futures were unchanged at $5.71 3/4. The SRW futures market saw tepid short covering today. The winter wheat markets are languishing not far above their contract lows.
Cotton: December cotton rose 1 point to 66.84 cents, nearer the daily high. More tepid short covering was featured in the cotton market today.
Cattle: October live cattle rose $4.625 to $234.60, near the daily high. September feeder cattle gained $8.40 to $35.80, near the session high. The cattle futures markets bulls again showed keen resilience to start the trading week, after suffering knock-down punches Friday.
Hogs: October lean hogs rose 40 cents to $97.525, near mid-range. The lean hog futures market saw some mild technical buying to start the trading week, as a solid price uptrend remains in place on the daily chart for October lean hogs, with prices not far below last week’s contract high