Corn: December corn fell 8 3/4 cents to $4.72, nearer the daily low. The corn futures market corrected lower following Wednesday’s post-USDA-report solid gains. Price pressure came due in part to improved production prospects in Brazil. That country’s total grain crop in the 2025-26 season is expected to increase 2.4% from the previous one to 260.8 MMT, according to Conab, which estimates Brazil’s total corn crop at 143 MMT, up 1.3% from a year earlier and higher than its previous forecast of 141.7 MMT. Projections indicate an expansion in planted area for both first and second corn crops.
Soybeans: November soybeans fell 1 cent to $11.82 1/4, near mid-range. September soybean meal fell $1.10 to $307.40, nearer the daily low. September soybean oil fell 37 points to 68.79 cents, nearer the daily low. The soybean and meal markets much of the session saw some mild follow-through buying after Wednesday’s gains. However, those gains could not be held into the close. Losses in the corn market limited the upside in the soybean complex.
Wheat: September SRW closed steady at $6.52 3/4, near mid-range. September HRW fell 1/4 cent to $7.20 1/2, nearer the daily low. September spring wheat futures fell 3 3/4 cents to $6.69 1/4, nearer the daily low. The winter wheat futures markets saw some chart consolidation and a pause today after Wednesday’s decent gains.
Cotton: December cotton futures lost 88 points to 83.50 cents, near mid-range. Cotton futures today saw routine profit taking from recent gains. Weakness in grains and in crude oil prices also limited buying interest in cotton.
Cattle: October live cattle fell $3.75 to $220.05, near the daily low and hit a three-week low. September feeder cattle lost $2.15 to $337.20, near mid-range and hit a three-week low. October live cattle and September feeder futures today saw more technical selling pressure as the charts have turned significantly more bearish this week. Lower cash cattle trading so far this week also pressured futures.
Hogs: October lean hog futures fell $1.425 to $82.125, nearer the daily low. The lean hog futures market saw more technical selling pressure today. Sharply lower cattle futures prices today also spilled over into more selling in hog futures. The cash hog market is still trending down, which also favors the bearish camp of futures traders.