Corn: March corn fell 6 3/4 cents to $4.90 1/4, marking a low-range close. Corn futures faced corrective pressure, in tandem with the soy complex despite mostly supportive outside markets.
Soybeans: March soybean futures fell 16 1/2 cents to $10.44 and closed nearer session lows. March meal futures plunged $5.10 to $304.70. March bean oil closed a tick higher at 44.98 cents. Soybean futures led weakness today as March futures are back to trading near this week’s lows.
Wheat: March SRW wheat rose 4 cents to $5.66 1/2, nearer the daily high and hit a nine-week high. March HRW wheat firmed 8 cents to $5.88 1/4, nearer the daily high and hit a 10-week high. March spring wheat futures climbed 6 1/2 cents to $6.20 1/4. The winter wheat futures markets bulls gained momentum today by pushing prices above recent chart resistance levels to suggest market bottoms are in place.
Cotton: March cotton futures sunk 39 points before settling at 66.27 cents, nearer the daily low. March cotton futures forged a fresh contract low today as prices closed lower for the fourth consecutive session.
Cattle: April live cattle fell $3.45 to $201.50, nearer the session low. March feeder cattle fell $2.075 to $273.20, nearer the session low. More profit-taking pressure was featured in the live and feeder cattle futures markets after they hit record highs earlier this week.
Hogs: Hog futures remained strong Thursday, with the nearby February contract rising 47.5 cents to $84.375 and most-active April climbing 60 cents to $91.925. The recent rally in cash hog prices, as represented by the CME Lean Hog Index, has accelerated this week.