During the week ended Feb. 1, USDA showed net soybean sales of 340,800 MT, short of pre-report estimates, while corn and wheat sales held steady week-over-week.
Corn posted fractional gains, soybeans saw corrective buying and wheat rose for the second consecutive day. Cotton futures rose as well. Cattle chopped near unchanged, while hog futures saw steady buying.
Corn and wheat saw corrective buying on Thursday despite losses in the soy complex. Cotton futures slipped after intraday volatility. Cattle futures pulled back from recent gains while hogs saw light buying.
Corn and soybeans underwent heavy selling pressure throughout the session, despite corrective buying in the wheat and cotton markets. Livestock fell under pressure as well, as cattle saw selling and hogs continue to fall
Soybeans showed impressive strength throughout the session despite weakness in corn, wheat and cotton. Live cattle futures made multi-week highs though faded into the close. Hogs traded around unchanged.
Corn and wheat continue to lead to the upside despite weakness in soybeans. Cotton futures rallied though continue to trade in a sideways range. Hog futures fell sharply despite sharp corrective gains in cattle.
