Corn
December corn futures rose 3/4 cent to $4.12 1/4, nearer the daily low and hit a four-week high early on. The December corn futures market continues to recover from the contract low set early earlier in the month following a surprisingly bearish USDA report.
Soybeans
November soybeans fell 10 3/4 cents to $10.47 3/4, near the daily low. September soybean meal lost $1.00 to $295.70, near the daily low and hit a three-month high early on today. September soybean oil fell 53 points to 54.31 cents, nearer the daily low. The soy complex futures saw some profit-taking pressure from the shorter-term futures speculators following recent gains.
Wheat
December SRW wheat rose 2 1/2 cents to $5.29 3/4, near mid-range. December HRW wheat fell 1/4 cent to $5.20 3/4, nearer the session low. December spring wheat futures rose 2 1/2 cents to $5.92 1/2. The winter wheat futures markets saw some tepid short covering today as December contracts hover not far above last week’s contract lows.
Cotton
December cotton fell 69 points to 67.32 cents, near the daily low. The cotton market continues to chop in a sideways range amid mostly uninspired bulls and bears. A higher U.S. dollar index today did limit the upside in cotton futures, but higher crude oil prices somewhat limited the downside.
Cattle
October live cattle fell $1.05 to $236.825, nearer the daily high. September feeder cattle fell 77 1/2 cents to $361.90, nearer the daily high. Buying interest in the cattle futures markets today was squelched by the news that a U.S. citizen from Maryland has contracted the New World Screw worm disease.
Hogs
October lean hogs rose 20 cents to $91.40, near mid-range. The lean hog futures market today paused after solid gains posted Friday. Lower cattle futures prices today did limit buying interest in hog futures.