Corn: May corn futures rose 9 3/4 cents to $4.53 1/2, near the session high and hit a seven-week high. The corn futures market today saw short covering and technical buying amid a price uptrend in place on the daily chart.
Soybeans: May soybeans rose 9 3/4 cents to $11.79 1/4, near the daily high and closed at a nearly two-year-high close. May soybean meal fell $0.60 to $309.30, nearer the daily high. May soybean oil rose 211 points to 65.70, nearer the daily high and hit another contract high. The soybean market was pulled higher by surging soybean oil prices today. Bean oil was boosted today as crude oil prices hit a nine-month high.
Wheat: May SRW rose 15 1/2 cents to $5.83 3/4, near the daily high. May HRW gained 20 cents to $5.92 1/2, near the daily high and hit a nine-month high. May spring wheat futures rose 10 1/4 cents $6.19 1/2, nearer the daily high. The SRW wheat futures market today saw perceived bargain hunting and technical buying following early-week selling pressure.
Cotton: May cotton futures fell 12 points to 64.04 cents, near mid-range and hit a three-week low. The cotton futures market today saw mild technical selling pressure.
Cattle: April live cattle rose 17 1/2 cents to $238.525, near mid-range. March feeder cattle fell $1.325 to $362.60, near mid-range. The cattle futures markets today saw pauses and some price consolidation after Wednesday’s solid gains.
Hogs: April lean hog futures fell $1.40 to $95.675, near the daily low. Lean hog futures today saw profit-taking pressure and took back all of Wednesday’s gains.
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