Corn: December corn futures fell 3 cents to $4.04 1/4 and near the session low. The early-September rally in corn futures has fizzled, suggesting the bulls have run out of gas.
Soybeans: November soybeans fell 20 3/4 cents to $9.97 1/4. December soymeal ended $7.20 lower at $317.80 and December soyoil closed down 92 points at 39.56 cents. Each ended near session lows. Soybeans succumbed to pressure stemming from soymeal futures, taking back all of Monday’s gains.
Wheat: December SRW futures climbed 5 3/4 cents to $5.74 1/4, settling near mid-range. December HRW futures rallied 8 1/4 cents to $5.84, while December spring wheat rose 3 1/4 cents to $6.10. Wheat futures saw relative strength today despite weaker corn and soy markets.
Cotton: December cotton rose 52 points to 68.21 cents, nearer the session high. Cotton futures were able to eke out modest gains despite no outside market support amid heavy selling in crude oil and equities combined with U.S. dollar strength.
Cattle: October live cattle futures dipped 65 cents to $176.275 and settled nearer session lows. October feeder cattle futures climbed 72.5 cents to $235.45. Cattle futures traded in a relatively tight range today without much volatility as traders await direction from the cash market.
Hogs: October lean hogs fell 25 cents to $78.55, nearer the session low and hit a three-week low. The October lean hog futures saw some more profit-taking pressure from the speculators today, after prices last week hit a three-month high.