Corn: July corn fell 6 1/2 cents to $4.48 3/4, a one-month low close. Nearby corn futures extended losses for the third straight session, edging to a one-month low, pressured by a general risk-off tone across commodities despite a weaker U.S. dollar.
Soybeans: July soybeans closed 4 1/4 cents lower to $12.09 3/4 and closed nearer session lows. July meal futures sank $5.50 to $363.60 and settled near session lows. July bean oil futures slipped 16 points lower to 45.72 cents. Soybeans showed relative strength compared to sharp losses seen in the corn and wheat markets but still closed lower for the third consecutive session.
Wheat: July SRW wheat fell 11 3/4 cents to $6.81. July HRW wheat lost 10 1/4 cents at $7.09 1/2. Prices closed near mid-ranges. July spring wheat futures fell 10 cents to $7.42. The winter wheat futures markets today saw more selling pressure, much of which was profit-taking from the shorter-term futures speculators following recent good gains.
Cotton: July cotton futures plunged 334 cents to 77.76 cents, settling near session lows. Recent gains in cotton futures have been largely negated as prices continued lower for the second straight session.
Cattle: August live cattle fell 42 1/2 cents to $179.775 and nearer the session high. August feeder cattle closed down $1.175 at $259.075. Prices closed near mid-range and hit a two-week low. There was some follow-through technical selling pressure in the cattle futures markets today, following Wednesday’s sizeable losses.
Hogs: Firming cash and wholesale prices seemed to spark renewed buying in hog futures Thursday. Nearby June futures rose 20 cents to $93.975, while most-active July advanced 62.5 cents to $96.95. The cash hog and wholesale pork markets showed signs of firmness Thursday morning, which seemingly spurred increased optimism about the short-term price outlook.