Corn: December corn rose 2 3/4 cents to $4.20 3/4, closing nearer the session high. Corn futures extended higher for a fourth straight session, though continued to face resistance at Wednesday’s high.
Soybeans: November soybean futures surged 15 1/2 cents to $10.79 1/2, though nearby August futures only climbed a nickel to $11.16. Each settled nearer session highs. August soymeal jumped $9 to $352.40, closing on session highs. August bean oil futures sunk 21 points to 45.81 cents. Soybean futures surged higher today on robust new-crop demand.
Wheat: December SRW wheat fell 8 1/2 cents to $5.62 1/2 and near the session low. December HRW wheat lost 5 3/4 cents to $5.78 and near mid-range. September spring wheat futures sunk 7 cents to $6.03 3/4. The wheat futures markets bulls were disappointed again today as wheat sold off despite gains in corn and soybean futures.
Cotton: December cotton futures firmed 25 points to 68.90 cents, settling nearer session highs. Cotton futures saw modest profit-taking as prices continue to trend lower on the daily bar chart.
Cattle: August live cattle rose $2.00 to $188.90, near the session high and hit a nine-month high. August feeder cattle closed up $1.50 at $258.625 and nearer the session high. The cattle futures markets surged today, led by live cattle, on technical buying.
Hogs: Hog futures rebounded strongly from mid-session losses Thursday, with nearby August futures ending the day unchanged at $93.775. Concerns about a near-term top in cash hog prices emerged again Thursday morning despite continued signs of cash and wholesale strength.