Corn: December corn fell 7 1/2 cents to $4.19, closing below the 10-day moving average. Corn futures continued to grind lower, marking losses for the fourth straight session as persisting U.S. dollar strength summoned selling across the grain complex.
Soybeans: January soybean futures plunged 20 1/4 cents to $9.87 1/2, settling near session lows. December meal futures made a new contract low, closing $4.60 lower to $287.00. December bean oil futures gave up early gains and closed 74 points lower to 44.44 cents. The soy complex underwent heavy selling pressure today, with January soybeans closing lower for the fourth consecutive session.
Wheat: December SRW wheat fell 10 3/4 cents to $5.30 1/4, near the daily low and hit a 2.5-month low. December HRW wheat fell 7 3/4 cents to $5.33 and near the session low. December spring wheat futures closed 3 1/4 cents lower to $5.67 3/4. The wheat futures markets saw more technical selling pressure today amid bearish charts.
Cotton: December cotton futures sunk 58 points to 68.32 cents, settling on today’s lows. Cotton futures tried and failed to rally today, reversing early gains and closing near session lows.
Cattle: December live cattle fell $1.075 to $182.95, nearer the session low and hit a seven-week low. January feeder cattle fell 45 cents to $243.20 and nearer the session low. Technical selling was featured in the cattle futures markets today amid recently deteriorating near-term technical postures.
Hogs: Diving pork prices likely undercut hog futures Thursday, with nearby December tumbling $1.775 to $80.10 at the close. The CME confirmed Tuesday’s hog index quote at $89.94, up six cents from Monday.