Corn: March corn rose 2 3/4 cents to $4.56 3/4, marking a high-range close. Corn futures managed to turn decidedly higher in midmorning trade, in tandem with soybean futures in today’s abbreviated session.
Soybeans: March soybean futures climbed 2 1/4 cents to $9.96 3/4 and settled nearer session highs. March meal futures fell to $1.70 to $299.10. March bean oil futures surged 79 points to 42.76 cents. Soybeans favored the downside in overnight trade though buying interest picked up early this morning and persisted throughout today’s shortened session, helping prices close near session highs.
Wheat: March SRW wheat fell 4 cents to $5.34, nearer the daily low. March HRW wheat fell 2 1/4 cents to $5.50 1/4 and near mid-range. March spring wheat futures fell 1 1/2 cents to $5.83 1/2. The winter wheat futures markets saw mild technical selling pressure today.
Cotton: March cotton futures rallied 31 points to 68.50 cents. Cotton futures saw modest strength today as positioning continues to drive trade ahead of Friday’s reports.
Cattle: February live cattle rose $3.80 to $197.50, near the session high and hit a 15-month high. March feeder cattle rose $3.80 to $268.775, near the session high and hit a contract high. Live and feeder cattle futures powered still higher today amid solid cash cattle and boxed beef market fundamentals.
Hogs: Hog futures surged $2.675 to $81.775 Thursday, continuing Wednesday’s rebound from early lows. Nearby February closed $2.675 higher at $82.15. Although cash hog prices apparently remain under pressure, pork cutout has rebounded from early-week lows.