Corn: December corn rose 8 1/4 cents to $4.09 1/4, closing near the session high and at the highest level since July 29. Outside markets lent no help in today’s corn rally, which marked the third day of gains, a feat not seen since the latter part of July.
Soybeans: November soybeans surged 12 cents to $10.12 but closed well off session highs. December meal closed $7.80 higher at $320.80, nearer session highs. December bean oil futures fell 103 points to 40.98 cents. Soybeans and meal led strength in the ag complex on Tuesday after the long weekend as November beans marked the highest close in about four weeks.
Wheat: December SRW wheat rose 15 1/4 cents to $5.66 3/4, near the daily high. December HRW wheat gained 11 cents to $5.76 1/4 and nearer the session high. Both markets hit three-week highs. December spring wheat futures rose 6 3/4 cents to $6.07 1/4. The winter wheat markets bulls put in an impressive price performance today, as short covering and perceived bargain hunting were highlighted.
Cotton: December cotton rose 51 points to 70.50 cents, marking a high-range close. Cotton futures rallied to begin the week amid spillover optimism from the grain and soy complexes, while outside markets were largely unsupportive.
Cattle: October live cattle rose 67 1/2 cents to $179.275. October feeder cattle gained $1.575 at $239.325. Both markets closed nearer their session highs. The cattle futures markets today saw some short covering and perceived bargain hunting, but gains were limited by slipping cash market fundamentals.
Hogs: October lean hog futures climbed 30 cents to $82.525 and settled nearer session high. Surging wholesale pork prices helped lead a rebound in hog futures today.