Corn: December corn rose 3 1/2 cents to $4.32 1/2, the highest close since June 27. December corn extended gains above the 100-day moving average, notching a fresh near-term high despite strength in the U.S. dollar.
Soybeans: November soybeans fell 1 1/4 cents to $10.56. December soybean meal dropped $7.10 to $340.40. December soybean oil rose 73 points to 43.64 cents. All three markets closed near mid-ranges. Soybean and meal futures markets today saw selling pressure from a higher U.S. dollar index and some risk aversion in the general marketplace.
Wheat: December SRW wheat rallied 16 1/4 cents to $6.15 1/4, while December HRW futures surged 21 cents to $6.19 1/4. Both contracts closed above their respective 100-day moving average. December spring wheat rose 11 cents to $6.45 3/4. HRW wheat led the grain complex today, hitting the highest level since June 20, which was quite a feat given strength in the U.S. dollar.
Cotton: December cotton rose 31 points to 73.40 cents and nearer the daily high. The cotton futures market is pausing at present being supported by rallies in the grain futures markets recently.
Cattle: The cattle complex surged higher again Wednesday. Nearby October live cattle jumped $2.95 to $187.425, while most-active December surged $2.525 to $187.70. Expiring October feeder futures leapt $3.575 to $249.725, while the November contract soared $3.875 to $248.55. There has been little news of any cash trading of fed cattle so far this week, with USDA reporting only a small lot of Iowa heifers changing hands at $185.00 Tuesday.
Hogs: October lean hogs rose $1.175 to $84.675, while the higher volume December contract rallied $2.150 to $76.75. Lean hogs edged higher for the fourth straight session today, with nearby October gapping higher at the open and rising to the highest intraday level since May 20.