Corn: December corn fell 2 1/2 cents to $4.10 3/4, a near-mid range close. Corn futures took back a portion of Friday’s gains, though losses stemming from notable selling across wheat futures were limited by supportive outside markets.
Soybeans: November soybean futures sunk 1 3/4 cents to $10.04 1/2, settling nearer session lows. October meal futures climbed $1.70 to $320.10 and closed nearer session highs. October bean oil futures firmed 22 points to 39.75 cents. Soybeans saw a relatively quiet day of trading, with rallies being sold and dips being bought.
Wheat: December SRW wheat fell 16 1/4 cents to $5.78 1/2. December HRW wheat fell 19 1/2 cents to $5.80 1/2. Both markets finished nearer their session lows. December spring wheat futures closed down 15 3/4 cents at $6.19 3/4. The winter wheat futures markets saw hefty profit-taking pressure from the shorter-term futures traders to start the trading week, after both markets hit two-month highs last Friday.
Cotton: December cotton rose the 300-point limit to 72.82 cents, closing above the 100-day moving average and at the highest level since July 1. Cotton futures kicked off the week jumping the limit amid notable outside market support and increasing sentiments of a half-point rate cut at this week’s FOMC meeting.
Cattle: October live cattle fell 42 1/2 cents to $177.225 and nearer the session low. October feeder cattle lost 12 1/2 cents to $239.00 and nearer the session low. The live and feeder cattle futures markets have moved well off their September lows, but price action has recently stalled amid shaky cash cattle and boxed beef fundamentals.
Hogs: October live cattle fell 42 1/2 cents to $177.225 and nearer the session low. October feeder cattle lost 12 1/2 cents to $239.00 and nearer the session low. The live and feeder cattle futures markets have moved well off their September lows, but price action has recently stalled amid shaky cash cattle and boxed beef fundamentals.