Corn: December corn fell 6 cents to $5.02, near the session low. The corn futures market saw corrective selling pressure today, after Tuesday’s good gains. The stronger U.S. dollar index today that is back near the recent 1.5-year high was a bearish outside-market factor for corn futures.
Soybeans: November soybeans fell 5 1/2 cents to $12.97 1/2, nearer the daily low. December soybean meal gained $11.00 to $365.80, near the daily high. December soybean oil fell 223 points to 67.58 cents, near the daily low. The soybean market saw modest losses today but soybean meal posted solid gains for the second session in a row. Spreaders were featured buying meal and selling bean oil today.
Wheat: December SRW fell 17 3/4 cents to $6.86 1/2, near the daily low. December HRW lost 17 3/4 cents to $7.38 1/2, near the daily low. December spring wheat futures fell 9 1/2 cents to $7.10 1/4, nearer the daily low. The wheat futures markets saw technical selling resume today, after a two-session respite.
Cotton: December cotton futures fell 118 points to 80.03 cents, nearer the daily low. Cotton futures saw corrective selling pressure today following three sessions in a row of price gains. Losses in the grain futures markets today were bearish for cotton futures at mid-week.
Cattle: December live cattle fell $0.325 to $223.775, nearer the daily high. November feeder cattle lost $2.475 to $335.80, nearer the session low. The live and feeder cattle futures markets saw routine corrective price pullbacks today, following Tuesday’s solid gains. Supply and demand fundamentals are still overall bullish for cattle and beef markets.
Hogs: December lean hog futures fell $1.275 to $69.10, nearer the daily low. The lean hog futures market saw technical selling pressure resume today as the bears tightened their grip—after the bulls saw some glimmer of hope early this week. Cash hog market prices continue to trend down, further strengthening the lean hog futures bears’ case.