Corn: December corn futures fell 4 1/4 cents at $3.97 1/4 and nearer the session low. Prices Monday hit a contract low. Strong selling pressure in the soybean complex futures today spilled over into price weakness in corn futures.
Soybeans: November soybeans fell 23 1/2 cents to $9.62 1/2, while December soymeal edged $5.40 lower to $299.20 and September soyoil fell 119 points to 40.29 cents. Each marked contract low closes. Turnaround Tuesday was not in the equation today for soybeans, which eroded for the sixth straight session to a contract low in tandem with soymeal futures.
Wheat: December SRW futures fell 8 cents to $5.51 3/4 and settled nearer session lows. December HRW futures fell a penny to $5.62 1/2. September HRS futures rose 3/4 cent to $5.93. December SRW futures closed at a two-week low, unable to shake off weakness in the corn and soy markets.
Cotton: December cotton fell 108 points to 67.99 cents, near the session low. Cotton futures continued to be limited by the 20-day moving average, which has served as resistance since late June.
Cattle: October live cattle futures firmed 72.5 cents to $180.75 though settled well off intraday highs. September feeder cattle futures climbed $2.675 to $242.175. Live cattle futures traded most of the session within yesterday’s range as prices continue to consolidate on the daily bar chart.
Hogs: October lean hogs fell $1.475 to $72.85, near mid-range and hit a four-week low. The lean hog futures market succumbed to technical selling pressure today as prices continue in a downtrend on the daily bar chart.