Corn: March corn fell 4 1/2 cents to $4.97 1/2, marking a low-range close. Corn futures extended to a fresh for the move high in early trade amid techincal and fund-led buying and support from firming crude oil futures.
Soybeans: March soybeans fell 6 3/4 cents to $10.31 3/4, nearer the daily low. March soybean meal rose 90 cents to $294.70 and near mid-range. March soybean oil fell 100 points to 46.30 cents, near the session low after hitting a three-month high early on. The soybean and soybean meal futures markets continue to languish in the lower portions of their recent sideways trading ranges.
Wheat: March SRW wheat tumbled 12 3/4 cents to $5.92, while March HRW closed down 13 1/2 cents at $6.13 3/4, each closing nearer the session low. March HRS futures fell a nickel to $6.36. Wheat futures faced corrective pressure after a run at the 200-day moving average for the third straight session, while a firmer U.S. dollar also generally hovered over commodities.
Cotton: March cotton fell 127 points to 66.24 cents and near the daily low. The cotton market bears today affirmed their near-term control over the market, as prices saw solid selling pressure despite the National Cotton Council’s (NCC) weekend release of its 2025-26 acreage estimates that showed U.S. producers intend to plant 9.6 million acres to cotton this year, which would be a 14.5% drop from last year.
Cattle: Expiring February live cattle futures rose 37.5 cents to $197.825, while most-active April advanced 75 cents to $194.775. In contrast, March feeder futures sank 70 cents to $269.025. The cattle complex reversed Tuesday’s action during Wednesday’s session with nearby fed cattle rising and feeder futures giving back a portion of yesterday’s big gains.
Hogs: April lean hog futures plunged $3.45 before settling at $89.75, near session lows. Lean hog futures underwent heavy selling pressure today, spurred by recent sharp losses in pork cutout.