Corn: May corn fell 9 1/2 cents to $4.60 3/4, closing below the 10- and 100-day moving averages. Corn futures erased recent gains as risk-off sentiments returned to the grain complex amid escalating trade tensions.
Soybeans: May soybeans fell 10 3/4 cents to $10.00 1/2, nearer the daily low and closed at 2.5-month low close. May soybean meal lost $1.60 to $300.20 and nearer the daily low. May soybean oil fell 25 points to 41.68 cents, nearer the session low and hit a nine-week low. The soybean complex futures saw more speculative selling pressure today, much of which was weak long liquidation, amid still-elevated risk aversion in the general marketplace amid worries about a global trade war sparking a world economic recession.
Wheat: May SRW wheat fell 2 3/4 cents to $5.54, while May HRW wheat rose a penny to $5.73, each forging high-range closes. May HRS futures fell 2 3/4 cents to $5.94 1/2. SRW wheat futures faced modest pressure despite notable pressure in corn futures and the soy complex along with a firmer U.S. dollar.
Cotton: May cotton rose 98 points to 66.98 cents and near the daily high. The cotton futures market today saw more short covering.
Cattle: Cattle and feeder futures continued their recent advance Wednesday. April live cattle futures climbed $1.85 to $201.40. April feeder futures jumped $3.025 to $280.725. Last week’s rebound in cash cattle prices likely set the stage for continued short-term gains, which goes far toward explaining the advance posted today.
Hogs: April lean hog futures fell a nickel to $86.50 and closed near mid-range. Nearby lean hog futures traded on either side of unchanged before settling modestly lower on the session.