Corn: December corn futures closed down 7 1/4 cents at $4.05 and near the session low. “Rain makes grain” has been the bearish theme in the corn market the past few weeks.
Soybeans: November soybeans fell 18 1/4 cents to $10.21 1/4, marking a fresh 3 1/2-year low close. December soymeal closed $5.50 lower at $318.00, near the session low. September soyoil showed relative strength, rising 13 points to 42.71 cents and forging a high-range close. Soybeans continued to edge lower today as technical pressure continues to curb buying interest, though losses were limited by technical support at Monday’s low.
Wheat: December SRW futures sunk 6 1/4 cents to $5.49 and settled near mid-range. December HRW futures fell 3 cents to $5.66 1/4 and closed nearer session highs. September HRS futures fell 7 cents to $5.84 1/2. Wheat futures continue to face volatile, undecisive low volume trade.
Cotton: December cotton rose 34 points to 69.55 cents, a near mid-range close. Cotton futures were able to pull off gains for a second straight day amid general strength across softs, while a fading U.S. dollar lent additional support.
Cattle: October live cattle futures firmed 65 cents to $187.45 while nearby August futures rallied 72.5 cents to $187.70. September feeder cattle futures rose 87.5 cents to $256.95. Live cattle futures traded on either side of unchanged before closing higher on the day.
Hogs: October lean hogs fell 5 cents at $74.775, near the mid-point of today’s range. The lean hog futures market today paused after Monday’s big downdraft in prices.