Corn: December corn futures rose 4 1/4 cents to $4.29, nearer the session high and hit a three-month high. The corn futures market was boosted today on technical buying from speculators as the near-term chart posture for corn has markedly improved just recently.
Soybeans: November soybeans rose 1/4 cent to $10.57 1/4 and near mid-range. December soybean meal gained $5.90 to $347.50, nearer the session high and hit a 2.5-month high. December soybean oil fell 40 points to 42.91 cents, closing nearer the session low. Technical buying in the soybean complex was featured early on today as the charts have turned more bullish recently.
Wheat: December SRW wheat rallied 15 cents to $5.99, the highest close since July 5, while December HRW rose 14 1/2 cents to $5.98 1/4. December spring wheat rose 13 cents to $6.34 3/4. Wheat futures extended gains as the session progressed amid heightened geopolitical tensions combined with looming supply uncertainties as key growing regions continue to experience subpar weather conditions.
Cotton: December cotton fell 52 points to 73.09 cents and nearer the daily low. The cotton market saw modest selling pressure today as the U.S. stock market sold off on news Iran launched a major ballistic missile attack on Israel today.
Cattle: October live cattle rose 70 cents to $184.475, a more-than-one-month high close, while November feeders fell 22.5 cents to $244.675. Cattle futures extended Monday’s gains as firming cash fundamentals continued to prop up the prices.
Hogs: October lean hogs rallied $1.25 to $83.50, marking the highest close since May 22. Nearby lean hog futures extended gains amid strong technical buying outside of the recent consolidation range to a more than four-month high.