Corn: May corn futures rose 1/2 cent to $4.40 1/4, nearer the daily low and hit a six-week high early on. The corn futures market today saw short covering and perceived bargain buying, but gains had faded by the close. A weaker U.S. dollar index and firmer crude oil prices today were friendly outside markets for corn.
Soybeans: May soybeans fell 3 1/2 cents to $11.49 3/4, nearer the session low and hit a two-month high early on. May soybean meal fell $1.30 to $312.50, near mid-range. May soybean oil gained 58 points to 59.88, nearer the daily high and hit another contract high. The soybean and bean oil futures market today saw more technical buying early on, with the meal being a slight laggard due to spreaders again selling meal and buying bean oil.
Wheat: May SRW fell 6 1/2 cents to $5.73 3/4, nearer the daily low and hit a nearly seven-month high early on. May HRW lost 13 cents to $5.72 1/4, near the daily low. May spring wheat futures fell a nickel to $5.82 1/4. The winter wheat futures markets today saw routine profit-taking pressure from recent gains.
Cotton: May cotton fell 49 points to 65.14 cents, nearer the daily low. The cotton futures market today saw a downside price correction following good gains posted late last week. Losses were somewhat limited by a weaker U.S. dollar index and firmer crude oil prices today.
Cattle: April live cattle fell $2.75 to $239.25, nearer the daily low. March feeder cattle fell $3.725 to $364.30, nearer the session low and hit a more-than-two-week low. The live cattle futures market today saw heavy profit-taking pressure from recent gains.
Hogs: April lean hog futures rose 2 1/2 cents to $93.70, nearer the daily low. Lean hog futures today saw some more short covering and perceived bargain buying following recent losses.