Corn: March corn fell 2 1/4 cents to $4.33, below the 20- and 40-day moving averages. Corn futures faced modest pressure to begin the shortened week as spillover selling in wheat curbed buying interest despite a weaker U.S. dollar.
Soybeans: January soybean futures settled 2 1/4 cents higher to $9.85 3/4 though settled nearer session lows. January meal futures climbed $4.40 to $295.90. January bean oil futures sunk 51 points to 41.33 cents and closed well off intraday lows. Soybeans saw early strength overnight but struggled to maintain gains as the session went on.
Wheat: March SRW wheat fell 9 cents to $5.55 3/4 and nearer the daily low. March HRW wheat lost 8 1/2 cents to $5.57 and nearer the session low. March spring wheat futures fell a nickel to $5.96 1/2. The winter wheat futures markets today saw technical selling pressure to start a Thanksgiving-holiday-shortened trading week, as the near-term charts remain firmly bearish.
Cotton: March cotton futures rose 95 points to 71.72 cents, ending the session above the 20-day moving average. Cotton futures extended last week’s gains, boosted by a corrective pullback in the U.S. dollar and strength in equities amid a generally enhanced tone across the marketplace.
Cattle: February live cattle fell 50 cents to $187.70, near the daily low after hitting a three-week high early on. January feeder cattle rose $1.175 to $255.475, nearer the session low and hit a 4.5-month high. The feeder cattle bulls extended their recent winning streak, but the live cattle bulls faded to start the trading week.
Hogs: December lean hogs futures climbed 30 cents to $81.975 though closed mid-range. Lean hog futures were supported by surging pork cutout today.