Corn: March corn rose 3 cents to $4.45, closing nearer the session high. Corn futures managed to achieve modest gains to begin the week despite general selling across the ag complex
Soybeans: January soybean futures sunk 6 1/4 cents to $9.82 and near session lows while deferred contracts saw steeper losses. January meal futures climbed 70 cents to $286.90, though settled near session lows. January bean oil futures sunk 89 points to 41.72 cents and near session lows. Soybean futures underwent selling pressure following this morning’s open.
Wheat: March SRW wheat fell 2 1/4 cents to $5.50, nearer the daily low. March HRW wheat rose 2 1/4 cents to $5.59 1/4 and near mid-range. The winter wheat futures markets continue to chop in sideways trading patterns at lower price levels.
Cotton: March cotton fell 21 points to 69.06 cents and near the session low. Prices closed at a four-week-low close. Cotton futures held a narrow range to start the week.
Cattle: February live cattle fell $2.05 to $189.975, near the session low after hitting a nine-month high early on. January feeder cattle fell $2.10 to $255.55 and nearer the session low. Profit-taking pressure was featured in the cattle futures markets today, despite still-solid cash market fundamentals, including still-strong consumer demand for beef.
Hogs: February lean hog futures plunged $2.05 to $83.55 and settled nearer session lows. February lean hog futures underwent persistent selling pressure today, negating Friday’s rally and closing at the lowest price since Nov. 19.