Corn: March corn fell 1/2 cent to $4.32 1/2, nearer the session high. Corn futures held an inside range to begin the week, limited by technical resistance, a fading soy complex and strong gains in the U.S. dollar.
Soybeans: January soybean futures fell 4 1/4 cents to $9.85 1/4 though settled well off session lows. January meal futures dropped $4.0 to $287.9, a contract low close. January bean oil futures sunk 32 points to 41.42 cents. Selling was featured in the soybean complex today as soybeans and each product continue to languish near recent lows despite continued signs of robust demand for U.S. origin beans.
Wheat: March SRW wheat fell 3/4 cent to $5.47 1/4 and near mid-range. March HRW wheat dipped 1/4 cent to $5.40 1/2 and near mid-range after hitting a contract low early on. March HRS futures sunk 4 cents to $5.87 3/4. The winter wheat futures markets continue to languish at lower price levels.
Cotton: March cotton fell 44 points to 71.49 cents, nearer the session high. Cotton futures continued to face pressure from U.S. dollar strength and looming technical resistance to begin the week and seasonally bullish month.
Cattle: February live cattle fell 70 cents to $187.925, nearer the daily low. January feeder cattle fell $2.625 to $256.85, nearer the session low after hitting a five-month high early on. Some technical selling pressure and profit taking were featured in the cattle futures markets today.
Hogs: February lean hog futures surged $1.625 to $87.95 and closed on session highs. Nearby December futures climbed $1.15 to $83.225. February hogs made up most of Friday’s loss as strength in pork cutout led futures higher.