Corn: May corn fell 1/4 cent to $4.57 1/2, closing nearer the session high. Corn futures performed relatively well today despite gapping lower in overnight trade in the wake of President Trump’s ‘Liberation Day’ announcement, which subsequently spurred a selloff across the broad marketplace.
Soybeans: May soybeans plunged 18 cents to $10.11 1/2 and settled nearer session lows. May meal inched 80 cents higher to $288.0. May bean oil skid 144 points to 47.06 cents. Prices gapped lower last night and settled where they opened, trading in just a 15-cent range despite falling nearly 20 cents.
Wheat: May SRW wheat fell 3 1/4 cent to $5.36, nearer the session high. May HRW wheat gained 1/2 cent to $5.69, nearer the daily high. The winter wheat futures market bulls fared pretty well today, given the keen risk aversion in the general marketplace that sank the U.S. stock indexes to multi-month lows following the new U.S. trade tariffs announcement Wednesday afternoon.
Cotton: May cotton closed limit lower, down 300 points to 64.80 cents. Cotton futures ended the day limit day following tariff announcements yesterday evening.
Cattle: June live cattle fell $2.70 to $204.70, closing near mid-range. May feeder cattle tumbled $4.80 to $283.125, marking a low-range close. The cattle futures markets today fell victim to a keen risk-off trading day in the general marketplace that saw the U.S. stock indexes plummet and hit multi-month lows.
Hogs: Hog futures proved weak Thursday, with expiring April futures skidding7.5 cents to $87.375, while most-active June futures fell 97.5 cents to $95.55. The trade situation in the wake of President Trump’s “Liberation Day” was extremely unsettled, with commodity traders clearly concerned other nations will impose or increase their own tariffs on U.S. ag products.