Corn: December corn fell 2 3/4 cents to $6.78 1/4, the contract’s lowest settlement since Oct. 6. Corn fell a fourth consecutive session on expanding harvest pressure and concern a strong U.S. dollar will crimp export demand.
Soybeans: November soybeans rose 1/2 cent to $13.72 1/2. December soymeal fell 10 cents to $401.70. December soyoil rose 190 points to 70.64 cents, the contract’s highest closing price since June 17. Soybean futures rebounded from initial weakness to post modest gains behind strength in crude oil and soyoil.
Wheat: December SRW wheat fell 8 1/4 cents to $8.41 1/4, a four-week low. December HRW wheat dropped 2 3/4 cents to $9.41 3/4. December spring wheat fell 2 1/2 cents to $9.53 1/2. Wheat was pressured by dollar strength and slumping technicals as traders watched for updates on a deal allowing Ukraine grain shipments.
Cotton: December cotton fell the 400-point daily limit to 78.40 cents, the lowest close for a nearby contract since April 2021. Cotton plunged on concern a strong dollar will hurt demand, while a sharp decline in U.S. stocks suggested heightened worries over rising interest rates and a potential recession.
Cattle: October live cattle rose 87.5 cents to $149.35, the highest close for a nearby contract since August 2015. December live cattle jumped $1.575 to $151.35, a two-month high. November feeder futures advanced 25 cents to $178.075. Cattle extended a recent rally on expectations for further cash market strength.
Hogs: December lean hogs rose 90 cents to $87.375, the contract’s highest close since Sept. 20. Hogs extended a sharp rally on bullish technicals and firming cash fundamentals. The CME lean hog index fell 16 cents to $93.19, but is expected to gain 1 cent Thursday. Pork cutout values fell $1.37 to $101.30 on movement of 305 loads.