Corn: December corn fell 1 1/4 cents to $3.98 1/2 but ended nearer the session high. Corn futures extended to a fresh near-term low in earlier trade, though modest buying interest ensued, pulling new-crop futures off their lows.
Soybeans: November soybean futures fell 6 cents before settling at $10.16 1/2, nearer session lows. September meal futures firmed 70 cents to $328.00. September bean oil futures fell 79 points to 42.47 cents. Soybeans forged a new for-the-move low though corrective buying efforts closed prices well off intraday lows.
Wheat: December SRW wheat rose 4 3/4 cents to $5.56 3/4. December HRW wheat gained 5 cents to $5.70 3/4. Both markets closed nearer their session highs. September spring wheat futures rose 7 cents to $5.88 1/2. The winter wheat futures markets saw more tepid short covering today, but stronger buying interest was limited by the recent meltdown in the corn and soybean futures markets.
Cotton: December cotton fell 91 points to 68.08 cents, closing nearer the session low. Cotton futures extended Wednesday’s losses amid technical selling combined with lacking outside market support.
Cattle: October live cattle fell $2.95 to $183.725, near the session low and hit a two-week low. October feeder cattle closed down $5.275 at $250.875, nearer the session low and hit a 3.5-month low. The live cattle futures market saw heavy profit-taking pressure today after prices late last week hit a nine-month high.
Hogs: October lean hog futures climbed $1.10 to $77.025 and settled nearer session highs. Nearby August futures firmed 87.5 cents to $93.15. Lean hog futures built on Wednesday’s gains as continued strength in the cash market underpins futures.