Corn: December corn futures closed up 3/4 cent at $4.08 1/2 and near mid-range. The corn futures market today saw tepid short covering after the December contract hit a more-than-three-year low on Monday.
Soybeans: November soybeans fell 19 1/2 cents to $10.80, a three-year low close, while August soymeal fell $4.70 to $345.30, closing nearer the session low. August soyoil plunged 214 points to 46.95 cents. Soybean futures faced follow-through selling to a three-year low as profit-taking in soyoil hovered over the complex.
Wheat: December SRW futures closed a penny higher to $5.95 1/2 though settled nearer session lows. December HRW futures rose 1/2 cent to $5.96 1/4, also nearer session lows. December spring wheat fell 1/4 cent to $6.36 1/4.
Cotton: December cotton fell 50 points to 70.55 cents, the lowest close since October 2021. Cotton futures traded in narrow, consolidative trade, with sellers hesitant to extend below technical support, while U.S. dollar strength and crude weakness curbed buying.
Cattle: August live cattle futures fell $2.00 to $182.35 and settled near the midpoint of today’s range. August feeder cattle futures fell $3.45 to $255.725 and settled nearer session lows. Live cattle futures underwent heavy selling pressure for the second consecutive session, though closed well off session lows.
Hogs: August lean hogs closed down $1.125 at $88.40 and near the session low. Winter-month contracts led lean hog futures lower today amid deteriorating cash market fundamentals.