Corn: December corn fell 2 1/2 cents to $4.78 1/4, closing near the session low. Corn futures faced spillover weakness from SRW wheat and soybean futures, with heavy selling in crude oil amid easing supply concerns casting a further shadow over prices.
Soybeans: Unable to hold onto overnight gains, November soybeans fell 14 1/2 cents to $12.82 3/4, closing near the session low. December meal futures led the soybean complex lower, falling $15.9 to $426.50, while December soyoil futures rose 12 points to 53.39 cents. Soybeans led the ag complex lower today, led by a sinking soybean meal market.
Wheat: December SRW wheat closed down 9 cents at $5.66 and near the session low. December HRW wheat closed up 2 cents at $6.45, near mid-range and hit a more-than-two-year low early on. Spring wheat futures slipped 2 cents to $7.17 3/4. Buying interest in wheat futures today was limited by still-bearish charts along with lower corn and soybean prices.
Cotton: December cotton dove 147 points to 82.91 cents and closed below the 100-day moving average. December cotton futures slid today amid profit-taking spurred by heavy selling in crude oil futures, while a weaker U.S. dollar limited selling efforts.
Cattle: December live cattle gained $1.025 at $183.25 and near mid-range. November feeder cattle closed up 77 1/2 cents at $237.675 and nearer the session low. The cattle futures markets to start the trading week continued their impressive recoveries from the October lows.
Hogs: Lean hog futures rallied 70 cents before closing at $71.175, near the mid-point of today’s session. Lean hog futures continued last week’s surge to start the week, further eroding the discount December futures hold to the CME lean hog index.