Corn: December corn fell 2 cents to $4.13 1/4, closing near the intraday low. Corn futures retreated from the intraday high in tandem with soybeans as technical pressure continued to curb buying interest.
Soybeans: November soybean futures sunk 12 1/4 cents to $10.41 and settled near session lows. December meal futures dropped $1.40 to $326.80, settling nearer session lows. December bean oil futures dropped 125 points to 42.90 cents. Soybeans traded higher overnight but struggled to maintain early session gains, posting losses after marking a fresh for-the-move high this morning.
Wheat: December SRW wheat fell 5 cents to $5.84 1/4. December HRW wheat fell 2 cents to $5.79. Both markets closed nearer their session lows. December spring wheat futures fell 2 cents to $6.15. The winter wheat futures markets continue to languish in sideways trading action, with stiff chart resistance located around the $6.00 level in both December SRW and HRW contracts.
Cotton: December cotton futures fell 18 points to 73.02 cents and settled nearer session lows. Cotton futures have struggled to followthrough to the upside despite continued worries over hurricane Helene barreling into Georgia cotton acres.
Cattle: Most-active December live cattle rose 50 cents to $184.825, with the expiring October contract surging $1.05 to $184.10. November feeder cattle rose 92 1/2 cents to $244.975. Both markets closed near the session highs and hit seven-week highs. Some chart-based buying from the speculators was featured today amid bullish near-term technicals for both live and feeder cattle futures markets.
Hogs: Hog futures turned lower Thursday, with nearby October falling 45 cents to $82.025. The recent lack of wholesale strength may be undercutting the cash and futures markets for hogs.