Corn: September corn rose 6 cents to $4.22 3/4, while December futures rose 6 1/4 cents to $4.42 1/4. Corn futures saw extended buying, with a close held above the 10-day moving average, which improves prospects of additional strength.
Soybeans: November soybeans rose 5 1/2 cents to $11.49 1/4, near mid-range. September soybean meal gained $1.60 to $303.5, near mid-range. September soybean oil fell 13 points to 66.31 cents, nearer the daily high but hit a nine-week low. The soybean complex today saw mixed action as soybeans continue in their modest uptrend, meal bounced off solid support and soyoil saw continued relative weakness.
Wheat: September SRW rose 10 3/4 cents to $6.00, nearer the daily high. September HRW gained 9 3/4 cents to $6.35, nearer the daily high. September spring wheat futures rose 12 cents to $6.18 1/2. The winter wheat futures markets saw follow-through buying today as traders digested reports that there are fewer wheat acres than expected in both the U.S. and Canada yesterday. The lower wheat acres compounds the problem of already poor yields in the southern U.S. Plains.
Cotton: December cotton futures rose 104 points to 77.84 cents, near mid-range. Cotton futures saw continued technical buying today as a fledgling price uptrend is now in place. Gains in U.S. stock indexes early today were also supportive for cotton.
Cattle: August live cattle fell 60 cents to $241.825, while August feeders fell 45 cents to $364.15. The cattle futures markets were mixed in midweek trade as live cattle futures posted modest corrective gains while feeders extended lower for the fourth straight session, though sellers were limited by solid technical support.
Hogs: August lean hog futures slid $1.15 to $97.05, nearer the daily low after hitting a three-week high early on. Lean hogs closed lower after trading higher early in the session as premiums to the cash market spurred profit-taking.