Corn: December corn futures fell 2 3/4 cents to $4.31 1/2, nearer the daily low. The corn futures market today saw routine profit-taking pressure from the shorter-term speculators.
Soybeans: January soybeans fell 12 3/4 cents to $11.21 1/2, nearer the session low. December soybean meal fell $3.40 to $317.40, nearer the daily low. December soybean oil fell 31 points to 49.53 cents, nearer the daily low. January soybeans today saw a normal “Turnaround Tuesday” corrective pullback from recent solid gains, with profit-taking from the shorter-term futures traders featured.
Wheat: December SRW rose 6 3/4 cents to $5.50 1/4, near the daily high and hit another three-month high. December HRW gained 4 3/4 cents to $5.36 1/2, near the daily high and hit a 2.5-month high. December spring wheat futures fell 1 1/4 cents to $5.57 1/4. Winter wheat market bulls had a very good day today, given the selling pressure in the corn and soybean futures markets. A rise in the U.S. dollar index to a near six-month high today did somewhat limit buying interest in the wheat markets.
Cotton: December cotton fell 48 points to 65.20 cents, nearer the daily low. December cotton futures today saw a corrective pullback from Monday’s gains as trading has turned choppy again. More chart consolidation was featured today. Lower corn and soybean prices and a rise in the U.S. dollar index today to a 5.5-month high were also bearish daily outside-market elements for cotton.
Cattle: December live cattle fell $4.425 to $227.775 and near the daily low. January feeder cattle lost $7.30 to $329.225 and near the daily low. The live and feeder cattle futures markets today saw technical selling pressure and also saw better selling interest amid the U.S. stock market sell off and keener risk aversion in the general marketplace.
Hogs: December lean hogs fell 67 1/2 cents to $79.925, nearer the daily low and hit a 3.5-month low. The lean hog futures market today saw still more technical selling amid bearish near-term price charts that include a price downtrend in place for December hogs.