Corn: December corn rose 3 cents to $4.30 1/4, marking the highest close since Nov. 11. Corn futures were able to shake off overnight weakness despite notable U.S. dollar strength, notching the highest intraday level in over a week.
Soybeans: January soybeans fell 8 cents to $9.90 1/2, nearer the session low. January soybean meal rose 90 cents to $291.30 and nearer the session high. January soybean oil fell 156 points to 43.36 cents, nearer the session low and hit a three-week low. Soybean futures saw some mild technical selling pressure today, while soybean meal continues to languish at lower price levels.
Wheat: December SRW wheat rose 2 3/4 cents to $5.52 1/2, the highest close since Nov. 12, while December HRW wheat rose 3 1/2 cents to $5.61 3/4. December HRS futures rose 5 1/4 cents to $5.92. SRW wheat futures impressively extended gains for the fourth straight session despite notable U.S. dollar strength.
Cotton: March cotton rose 103 points to 70.28 cents and nearer the daily high. The cotton futures market today saw more short covering as the bears appear to have become exhausted after Tuesday’s push to a three-month low.
Cattle: Cattle and feeder futures traded mixed Wednesday. Nearby December live cattle futures slipped 27.5 cents to $186.30 at the close. Expiring November feeder futures, which go off the board at noon tomorrow, rose 55 cents to $254.80, while most-active January gained 32.5 cents to $252.325. There was a dearth of fed cattle trading Monday and Tuesday, with the only activity being the sale of a few lots of steers and heifers on a dressed-delivered basis.
Hogs: December lean hog futures rallied 97.5 cents to $80.525 and closed near session highs. Lean hog futures bounced today, closing in the upper end of the recent range.