Corn: May corn futures settled 8 cents lower to $4.97. Corn futures underwent heavy selling pressure to start the week as May futures closed at the lowest mark in three weeks.
Soybeans: May soybean futures fell 10 1/2 cents to $10.47 1/2 and closed nearer session lows. May meal futures sunk $3.00 to $300.90 and on session lows. May bean oil futures closed 104 points lower to 46.30 cents. Soybeans fell today in a continuation of Friday’s selling pressure.
Wheat: May SRW wheat fell 10 1/2 cents to $5.93 1/2 and nearer the daily low. May HRW wheat lost 12 1/4 cents to $6.09 1/2, nearer the daily low. May spring wheat futures closed 10 1/4 cents lower to $6.35 3/4. The wheat futures markets today fell victim to profit taking from the shorter-term futures traders after recent gains.
Cotton: May cotton rose 54 points to 67.88 cents and near mid-range. The cotton futures market saw some tepid short covering today and also some mild support as the U.S. stock indexes stabilized after Friday’s sharp losses.
Cattle: April live cattle rose $1.15 to $195.10 and nearer the session high. March feeder cattle gained $4.35 to $272.30, near the session high and hit a three-week high. The cattle futures markets today saw short covering and corrective buying following recent losses.
Hogs: April lean hog futures fell 27.5 cents to $87.40 and closed on session lows. April lean hog futures opened higher this morning but struggled to maintain early gains as the session went on.