Corn: December corn rose 4 3/4 cents to $4.09 1/2, marking the highest close since Oct. 11. Corn futures notched corrective gains to start the week, with the grain and soy complexes generally favoring the upside despite followthrough strength in the U.S. dollar.
Soybeans: November soybeans climbed 11 cents to $9.81 and settled near session highs. December meal futures rallied $2.70 to $318.30, nearer session highs. December bean oil futures firmed 57 points to 42.39 cents. Soybean futures boasted gains throughout today’s session as bulls attempt to reverse some of the bearish momentum that has driven prices lower in three past three weeks.
Wheat: December SRW wheat rose 1/2 cent to $5.72 1/4 and nearer the daily low. December HRW wheat gained 1 1/2 cents to $5.82 1/4 and nearer the session low. December spring wheat futures fell 2 1/2 cents to $6.14. The winter wheat futures markets mostly paused to start the trading week.
Cotton: December cotton rallied 121 points to 72.20 cents, ending the session above the 100-, 40- and 10-day moving averages. December cotton futures posted solid gains to start the trading week, with support stemming from corrective buying in crude oil, while persisting strength in the U.S. dollar and a weaker tone across equities likely dampened some buyer interest.
Cattle: December live cattle fell 50 cents to $186.825, nearer the session low. November feeder cattle lost $1.00 to $246.60, nearer the daily low. The live and feeder cattle futures markets paused to start the trading week.
Hogs: December lean hog futures closed 45 cents higher and near the session high at $78.275 despite trading lower early in the session. Lean hog futures scored fresh for-the-move highs as contra-seasonal strength persists in cash fundamentals.