Corn: December corn fell 5 cents to $4.62, near the daily low and hit a nine-week low. The corn futures market saw more technical selling today as the near-term chart posture remains bearish.
Soybeans: November soybeans fell 5 1/4 cents to $12.48 1/4, nearer the daily low and hit a seven-week low. December soybean meal lost $6.10 to $348.70, near the daily low and hit a two-week low. December soybean oil rose 4 points to 66.73 cents, near the daily low. The soybean and meal markets saw more technical selling featured today as prices are trending lower on the daily bar charts.
Wheat: December SRW fell 12 cents to $6.43 1/4, near the daily low and hit a nine-week low. December HRW lost 8 1/2 cents to $6.91, near the daily low and hit a three-month low. December spring wheat futures fell 7 3/4 cents to $6.62 1/4. The winter wheat futures markets saw more technical selling today as prices are in firm downtrends on the daily bar charts.
Cotton: December cotton futures rose 75 points to 80.88 cents, nearer the daily high. Cotton futures saw some short covering and perceived bargain hunting today but are presently trapped in a sideways trading range.
Cattle: December live cattle rose $2.15 to $230.175, near the daily high and hit a three-month high. November feeder cattle rose $2.375 to $346.30, near the daily high and hit a three-month high. The live and feeder cattle futures markets saw fresh technical buying today as prices are trending up on the daily chart.
Hogs: December lean hog futures rose $0.800 to $67.15, near the daily high. The lean hog futures market saw short covering in a bear market. Prices are not far above last week’s contract low.