Corn: July corn futures rose 2 1/4 cents to $4.77 3/4, nearer the daily high and hit another four-week high. The corn futures market saw more technical buying featured today as prices are trending up on the daily bar chart.
Soybeans: July soybeans rose 7 3/4 cents to $11.97, near the daily high and closed at a six-week high close. July soybean meal fell $3.60 to $323.80, nearer the daily low. July soybean oil gained 160 points to 74.12 cents, near the daily high and hit another contract high. The soybean market today saw technical buying as bulls are working on starting a price uptrend on the daily bar chart.
Wheat: July SRW fell 4 3/4 cents to $6.53 near the daily low after hitting a 22-month high early on. July HRW rose 2 1/2 cents to $7.04 3/4, nearer the daily low and hit a 22-month high early on. July spring wheat futures rose 2 1/4 cents to $7.15 1/2. The HRW wheat futures markets today saw follow-through technical buying interest but some profit taking from the shorter-term traders knocked prices off their highs near the end of the trading day.
Cotton: July cotton futures lost 47 points to 79.20 cents, nearer the daily low. July cotton futures today saw more profit-taking pressure. Higher crude oil prices limited selling interest but a wobbly U.S. stock market at mid-week kept the cotton bulls mostly on the sidelines.
Cattle: June live cattle rose $1.75 to $255.25, near mid-range and hit a contract and record high early on. May feeder cattle fell $0.225 to $371.50, nearer the daily low after hitting a two-week high early on. The cattle futures markets bulls came out of the chute strong today, but faded a bit as the trading session progressed as profit-taking from the shorter-term traders was featured.
Hogs: June lean hog futures rose $1.775 to $103.75, nearer the daily high and hit a three-week high. The lean hog futures market saw more short covering and perceived bargain hunting today.