Corn: December corn plunged 7 cents to $4.05 3/4, marking the largest daily loss since July 30. Corn futures fell victim to losses in wheat futures combined with U.S. dollar strength, despite headlines of global production hiccups.
Soybeans: November soybeans fell 3/4 cent to $10.13 1/4 and closed near mid-range. December meal futures climbed 20 cents to $321.60, near mid-range. December bean oil futures climbed 62 points to 40.93 cents. Soybean futures saw action on either side of unchanged before closing slightly lower on the day.
Wheat: December SRW wheat fell 10 1/4 cents to $5.65 1/2. December HRW wheat fell 14 cents to $5.64 1/2. Both markets closed nearer their session lows and closed at two-week-low closes. Spring wheat futures sunk 8 3/4 cents to $6.07 3/4. The winter wheat market bulls have faded this week amid fresh chart-based selling pressure from the speculators as technical postures have deteriorated.
Cotton: December cotton futures surged 176 points to 73.03 cents, though settled well off session highs. December cotton futures surged to a fresh for-the-move high today, negating losses from the past couple of days.
Cattle: October live cattle rose $1.675 to $179.975 and nearer the session high. Prices hit a four-week high today. October feeder cattle rallied $3.825 to $243.775 and nearer the session high. Prices hit a six-week high today. Technical buying in the live and feeder cattle futures markets was featured today, as the near-term chart postures for both markets has turned more bullish this week.
Hogs: Hog futures traded mixed Thursday, with nearby October edging up 20 cents to $82.25. Hog traders seemed ambivalent about the short-term outlook Thursday, with the nearby contracts posting slight gains and those that expire after next April declining modestly.