Corn: May corn futures fell 6 3/4 cents to $4.57 3/4, nearer the session low. The corn market saw selling pressure today amid rising concerns about U.S. trade relations with other major economies possibly negatively impacting foreign demand for corn.
Soybeans: May soybeans fell 5 1/2 cents to $10.01 3/4, closing nearer the session low. May soymeal closed $2.50 lower at $295.10, three-week low close. May soyoil rose 15 points to 42.30 cents. Soybeans extended lower in step with the grain complex as traders continue to remove risk as uncertainty rings across the marketplace amid trade unknowns and in anticipation of USDA’s Prospective Plantings and Quarterly Grain Stocks reports.
Wheat: May SRW futures fell a nickel to $5.43 1/4 and closed nearer session lows. May HRW futures sunk 8 3/4 cents to $5.69 1/4, near session lows. May spring wheat futures fell 3 3/4 cents to $5.88 1/2. Winter wheat futures led weakness today as conditions improved in the Plains over the past week, bucking expectations. State-level winter wheat condition ratings showed general improvement in the HRW crop over the past week.
Cotton: May cotton fell 28 points to 65.14 cents, marking the lowest close since March 5. Cotton futures extended lower for a seventh straight session as technical pressure continues to hover over prices along with weak demand fundamentals.
Cattle: June live cattle futures inched 17.5 cents higher to $202.325 while nearby April futures climbed 47.5 cents to $206.375. May feeder cattle futures fell 72.5 cents to $284.125 while expiring March futures posted modest gains. Cattle futures saw action on either side of unchanged today before closing modestly higher.
Hogs: April lean hogs rose 95 cents to $86.65, near mid-range. June hogs gained 45 cents to $96.25. The lean hog futures market saw more chart consolidation amid a choppy and sideways market recently.