Corn: May corn futures fell 1 3/4 cents to $4.47 1/4, nearer the daily high and hit a five-week low early on. The corn futures market saw more technical selling pressure today and was also pushed down by strong losses in the crude oil market.
Soybeans: May soybeans rose 3 3/4 cents to $11.62, near the daily high after hitting a six-week low early on. May soybean meal rose $2.30 to $314.10, nearer the daily high. May soybean oil fell 230 points to 67.42 cents, nearer the daily high. The soybean and meal futures markets today saw modest buying interest but gains were limited by a spike lower in crude oil prices
Wheat: May SRW lost 17 3/4 cents to $5.80 1/4, nearer the daily low and hit a five-week low. May HRW fell 12 1/4 cents to $5.95 1/4, nearer the daily low and hit a five-week low. May spring wheat futures fell 17 cents to $6.24, at the daily low. The winter wheat futures markets saw more technical selling pressure today and also saw selling interest due to strong losses in the crude oil market.
Cotton: May cotton futures rose 36 points to 71.67 cents, nearer the session high and closed at an 11-month high close today. The cotton futures market bulls showed their resilience today by posting gains despite sharply lower crude oil prices and a sell off in most of the grain markets.
Cattle: June live cattle rose $0.125 to $245.925, near mid-range. May feeder cattle gained $1.375 to $368.00, near mid-range. The cattle futures markets today saw some chart consolidation after nearby live cattle futures prices this week hit a record high.
Hogs: June lean hog futures fell $2.40 to $104.65, near the session low The lean hog futures market gave back most of Monday’s gains at mid-week, on profit-taking pressure and weak long liquidation from the shorter-term speculators.