Corn: December corn fell 3 3/4 cents to $3.97, near the session low. Corn futures favored the downside in largely sideways trade, with early strength in soy complex limiting selling interest, though solid U.S. dollar gains generally weighed on commodities.
Soybeans: November soybean futures closed steady on the session at $9.68 1/2, though settled nearer session lows. September meal futures firmed $2.80 to $307.90 and closed nearer session lows. September bean oil futures sunk 54 points to 39.47 cents and made a fresh contract low today. Soybeans traded on either side of unchanged as prices are caught between improving demand and anticipated record production.
Wheat: December SRW wheat fell 6 cents to $5.50 1/4 and near the daily low. December HRW wheat fell 8 1/2 cents to $5.52 3/4, near the session low and closed at a contract low close. September spring wheat futures fell 5 3/4 cents to $5.86 1/4. The wheat futures markets today saw selling pressure due in part to solid gains in the U.S. dollar index and weaker corn futures prices.
Cotton: December cotton futures firmed 10 points to 67.15 cents though settled nearer session lows. Cotton futures struggled to maintain early gains as sellers took advantage and sold the rally.
Cattle: October live cattle fell $1.375 to $180.75 and near the session low after hitting a two-week high early on. October feeder cattle closed down $1.20 at $240.90 and near the session low. The live and feeder cattle futures markets succumbed to chart-based selling pressure today, as technicals still favor the bears in both markets.
Hogs: Hog futures reacted well to supportive cash and wholesale news. Nearby October futures rose 57.5 cents to $76.50. As implied yesterday, and discussed here, the hog index looks set to rise when officially quoted tomorrow.