Corn: May corn fell 13 1/4 cents to $4.56 1/4, the lowest close since Dec. 24. Corn futures were embattled to begin the week due to persisting risk-off sentiments as the marketplace cautiously awaits President Trump’s tariffs and likely retaliatory actions.
Soybeans: May soybeans fell 14 1/4 cents to $10.11 1/2, marking the lowest close since Jan. 9, while May soymeal fell $2.20 to $298.00, ending nearer the session low. May soyoil slipped 63 points to 43.49 cents. Soybean futures extended losses for the fourth straight session as technical headwinds roar and traders remain cautious ahead of additional tariffs, which are set to go into effect on Tuesday.
Wheat: May SRW wheat fell 8 cents to $5.47 3/4, near the daily low and hit a five-week low. May HRW wheat lost 11 cents to $5.62, near the daily low and hit a five-week low. May HRS futures fell 6 1/2 cents to $5.91 1/4. The winter wheat futures markets continue in their steep price downdraft amid a risk-off trader mentality in the general marketplace to start the trading week.
Cotton: May cotton rose 26 points to 65.51 cents but still ended near the session low. Cotton futures were somewhat of a bright spot to begin the week, notching modest gains while the rest of the ag complex faced an extended meltdown ahead of potential tariffs.
Cattle: April live cattle fell 40 cents to $192.25 and nearer the session high. May feeder cattle fell 92 1/2 cents to $270.20 and nearer the session high. The cattle futures markets today saw some selling pressure due a risk-off trading day in the general marketplace to start the trading week.
Hogs: April lean hogs rose 2 1/2 cents to $83.70, nearer the daily low and hit a five-month low early on. The lean hog futures market saw some tepid short covering from the recent strong selling pressure that has put the bulls on their heels.