Corn: March corn futures fell 1/4 cent to $4.31 1/4, nearer the session low. The corn futures market today saw some mild technical selling pressure featured.
Soybeans: January soybeans rose 6 1/2 cents to $9.91 3/4, while January soymeal rose $2.50 to $290.40, each forging near mid-range closes. January soyoil rallied 72 points to 42.12 cents. Soybeans notched modest short-covering gains, led by soyoil futures, which were bolstered by overnight strength in Malaysian palm oil and solid gains in crude oil.
Wheat: March SRW futures settled 1/4 cent higher to $5.47 1/2 but settled nearer session lows. March HRW futures climbed 1 1/4 cent to $5.41 3/4. March HRS futures rose 2 1/4 cents to $5.90. Wheat futures struggled to maintain strong overnight gains as prices fell back near recent lows in afternoon trading.
Cotton: March cotton fell 22 points to 71.27 cents, ending the session above the 20-day moving average. Cotton futures ended modestly lower, despite U.S. dollar weakness and solid gains in crude oil futures as sliding equities and lingering technical resistance curbed buyer interest.
Cattle: February live cattle futures climbed $1.15 to $189.075 and settled nearer session highs. January feeder cattle futures surged $2.45 to $259.30 and closed near session highs. Both live cattle and feeder cattle futures rebounded from yesterday’s weakness and closed back near recent highs.
Hogs: February lean hogs fell 10 cents to $87.85 and near the daily low. The lean hog futures market today saw mild profit taking from recent gains that saw the market hit a contract high last week.