Corn: May corn futures fell 1 3/4 cents to $4.70 1/4 and near the daily low. The corn futures market early on today saw follow-through technical buying interest from the speculators, but faded into the close on keener risk aversion in the general marketplace following new U.S. trade tariff moves against Canada today.
Soybeans: May soybeans fell 2 3/4 cents to $10.11 1/4, while May soymeal fell 50 cents to $301.80. May soyoil fell 33 points to 41.93 cents. Each ended near session lows. Soybeans held onto gains into USDA’s March Supply & Demand Report, which featured minimal changes from February.
Wheat: May SRW futures fell 5 3/4 cents to $5.66 3/4 and closed near session lows. May HRW futures slid 7 1/2 cents to $5.72, closing on session lows. May HRS fell 8 cents to $5.96 1/2. Wheat futures favored the downside most of today’s session, with USDA reports providing little catalyst.
Cotton: May cotton was unchanged at 66.00 cents, forging a mid-range close. Cotton futures held an inside range and mostly between the 20- and 10-day moving averages, with outside markets lending support as the U.S. dollar resumed its recent decline.
Cattle: April live cattle futures slid $1.025 to $199.55 and closed nearer session lows.
April feeder cattle fell 22.5 cents to $277.70. Cattle futures saw modest selling pressure today as uncertainty persists in cash fundamentals.
Hogs: April lean hogs fell $1.75 to $86.55, near the daily low. The lean hog futures market today saw a corrective pullback and some profit taking from the shorter-term speculators, following recent good gains.