Corn: July corn fell 2 cents to $4.56 1/2, closing nearer the session low. Price action in corn futures was limited today as strength in SRW wheat curbed spillover losses from soybeans.
Soybeans: July soybean futures sunk 19 1/4 cents before settling at $12.08 1/2, nearer session lows. July meal futures closed $5.6 lower to $372.9, on session lows. July bean oil futures marked a fresh for-the-move low, closing 115 points lower at 42.64 cents. The soybean complex underwent continued selling pressure today ahead of Friday’s USDA reports.
Wheat: July SRW wheat rose 3 1/2 cents to $6.37 1/2 and closed near mid-range. July HRW wheat gained 3 1/4 cents to $6.51 3/4 and settled nearer the session low. July spring wheat futures rose a penny to $7.03 3/4. The winter wheat futures markets today were supported by wheat-crop woes in the Black Sea region, but losses in corn and soybean futures did limit the upside.
Cotton: July cotton futures fell 146 points to 78.60 cents, though settled off session lows. Cotton futures endured resurgent selling pressure following big gains on Wednesday.
Cattle: June live cattle fell 52 1/2 cents to $175.95. August feeder cattle dropped $1.35 to $251.05. Prices closed nearer their session lows. The cattle futures markets were under selling pressure today as the boxed beef market has eroded a bit late this week.
Hogs: Flat-to-weak cash and wholesale markets appeared to undercut hog futures again Thursday, with most-active June futures falling $1.00 to $97.725. Despite the history of great seasonal strength across the hog and pork complex at this time of year, the cash and wholesale markets continue struggling.