Corn: March corn futures fell 1 cent to $4.23 3/4, near mid-range. The corn futures market paused today after posting decent gains last Friday. A sharply lower U.S. dollar index and higher crude oil prices today limited selling interest in corn futures.
Soybeans: March soybeans fell 4 3/4 cents to $10.53, near the daily low. March soybean meal gained $1.60 to $291.60, near mid-range. March soybean oil lost 5 points to 52.56 cents, nearer the daily low. The soybean market paused today, while meal futures saw some short covering.
Wheat: March SRW fell 7 3/4 cents to $5.10 1/4 and near the session low. March HRW lost 4 1/4 cents to $5.23 and near the daily low. March spring wheat futures fell 3 cents to $5.62, near the daily low. The HRW futures markets saw technical selling pressure today.
Cotton: March cotton fell 32 points to 64.34 cents, near the daily low. The cotton futures market saw some chart-based selling today as the price uptrend on the daily bar chart has been negated.
Cattle: February live cattle rose 22 1/2 cents to $232.375, near mid-range. March feeder cattle rose $1.225 to $357.675, nearer the session high. The live and feeder cattle futures markets today saw the bulls try to stabilize their markets following Friday’s debacle with New World Screwworm that spooked cattle traders.
Hogs: February lean hog futures fell 42 1/2 cents to $87.85, near the session low and hit a three-month high early on. Lean hog futures today saw some mild and routine profit-taking pressure from the shorter-term speculators following recent strong gains.