Corn: March corn fell 2 1/4 cents to $6.74 3/4, maintaining a close above the 100-day moving average of $6.74 1/4. Corn futures maintained a narrow range, trading either side of unchanged throughout the session, despite strength in soybeans and wheat.
Soybeans: March soybeans rose 14 cents to $15.02 1/2 and near the session high. March soybean meal gained $5.70 at $465.50, nearer the session high. March bean oil fell 44 points to 60.54 cents, near mid-range, hitting a five-week low. Soybeans were supported by a daily export sale and by gains in meal futures.
Wheat: March SRW wheat futures gained 6 3/4 cents to $7.41 1/4, ending the session above 10-day moving average for the first time since Jan. 17. March HRW rose 9 1/2 cents to $8.43 1/4, and March spring wheat increased 6.5 cents to $9.09 1/2. The wheat complex extended the previous session’s gains on continued bargain buying and looming questions if recent rains in the U.S. Plains have adequately replenished winter wheat fields.
Cotton: March cotton rose 42 points to 86.66 cents and nearer the session high. The cotton futures market has seen some friendly fundamentals news develop this week.
Cattle: February live cattle futures slipped 25 cents to $157.60 Wednesday, while the deferred contracts posted slight gains. March feeder futures inched up 15 cents to $183.75. Cattle slaughter has remained consistently above year-ago levels.
Hogs: Hog futures ended Wednesday narrowly mixed, with the nearby February contract slipping 30 cents to $76.80. Pork carcass values remain relatively stable in the $80.00 area.