After the Bell | March 4, 2024
Corn: May corn rose 5 1/4 cents to $4.30, the highest close since Feb. 20. Corn futures started the week on a fairly strong note, closing at the highest level since Feb. 20.
Soybeans: May soybeans rose 3 3/4 cents to $11.55, while May soymeal rose $1.20 to $333.50. Both closed near session lows. May soyoil closed 1 point higher to 45.17 cents. Soybean futures traded higher most of the session but struggled to maintain overnight gains.
Wheat: May SRW wheat rose 6 1/4 cents at $5.64 and hit a contract low early on. May HRW wheat closed up 15 3/4 cents at $5.80 1/4. Both markets closed near the session highs. May spring wheat futures rallied 13 1/2 cents to $6.57 1/4. The winter wheat futures markets today saw some short covering and perceived bargain hunting.
Cotton: May cotton fell 99 cents to 94.58 cents, the lowest close since Feb. 23. Cotton futures were subdued to start the week on followthrough weakness after reaching an 18-month high last week.
Cattle: April live cattle dropped $1.775 to $186.675. May feeder cattle fell $2.40 to $257.775. Prices closed near the session lows. The cattle futures markets today saw profit-taking pressure following recent gains.
Hogs: April lean hog futures dropped $1.80 to $86.275 and settled nearer session lows. Nearby lean hog futures fell under heavy selling pressure, negating Friday’s surge, though deferred contracts saw relative strength.
