Corn: December corn futures rose 5 3/4 cents to $4.18, near the session high after hitting a contract low early on. The corn futures market saw short covering today, following the recent strong selling pressure.
Soybeans: August soybeans fell 3 1/4 cents to $10.0, the lowest close since April 8, while August meal fell $2.160 to $267.70. August soyoil rose 42 points to 54.17 cents. Soybeans gapped lower overnight and edged to a more than three-month low despite technically oversold conditions.
Wheat: December SRW wheat fell 3 1/4 cents to $5.62 1/4, nearer the session high. December HRW wheat fell 2 3/4 cents to $5.45 1/2, near mid-range and hit a seven-week low. December spring wheat futures fell 10 cents to $6.23 1/2. Wheat futures continued downward today following last week’s trend.
Cotton: December cotton rose 70 points to 68.12 cents, near the session high. The cotton futures market continues to languish in a choppy and sideways trading range, with traders likely needing a fresh fundamental catalyst to break prices out of the range.
Cattle: August live cattle fell $2.85 to $219.35, near the daily low. August feeder cattle lost $5.85 to $319.475, near the session low. The cattle futures markets faced, what is so far just, routine profit-taking pressure to start the trading week after last week’s push to contract and record highs.
Hogs: August lean hogs fell $1.45 to $103.225, marking the lowest close since May 27. Returned cash hog weakness combined with deteriorating wholesale value sent nearby futures to the lowest intraday level since late May.