Corn: May corn fell 2 3/4 cents to $6.37, marking a mid-range close. Corn failed to turn positive despite strengthening crude oil futures, two daily export sales and notable export inspections for week ended March 2.
Soybeans: May soybeans rose 10 1/4 cents to settle at $15.29. May soybean meal made a new contract high after rising $12.10 settling at $493.4. May soyoil fell 74 points to close at 60.45 cents, near the session low. Soybean sentiment flipped on a dime following the open this morning, with May futures rallying 25 cents in the following hour.
Wheat: May SRW wheat fell 13 1/4 cents at $6.95 1/4, nearer the session low and hit a contract low. May HRW wheat dropped 18 1/2 cents at $7.97 3/4, near the session low and also hit a contract low. Spring wheat futures dropped 10 cents to $8.62 3/4. The wheat market bears are flexing their muscles as traders expect an extension of the Black Sea Ukraine grain-shipping agreement later this month.
Cotton: May cotton rose 54 points to 84.71 cents, ending nearer the session high. Cotton rose modestly in choppy trade as the U.S. dollar fell under mild pressure while crude oil futures turned above $80 per barrel.
Cattle: pril live cattle rose 67 1/2 cents to $166.10, nearer the session high and hit a contract high. May feeder cattle gained $2.30 at $203.25, near the session high and also scored a contract high. Rock solid cash market fundamentals and a fully bullish technical posture are fueling the live and feeder cattle futures markets bulls, with no early clues of market tops being close at hand.
Hogs: April lean hogs fell $1.075 and closed on the session low at $83.475. Lean hog futures remain under pressure even as the cattle market is making new highs.