Corn: December corn rose a penny to $4.07 1/4, ending near the session high. Corn futures found some strength as the session progressed, likely stemming from soybeans and corrective gains in crude oil futures.
Soybeans: November soybeans rallied 13 cents to $10.18, closing back above the 40-day moving average and near the session high, while December soymeal rose 60 cents to $325, forging a low-range close. December soyoil closed 85 points higher at 40.48 cents, closing near the session high. Soybean futures took back a portion of Friday’s losses, though technical resistance and U.S. dollar strength curbed momentum.
Wheat: December SRW wheat rose 1 1/2 cents to $5.68 1/2 and near the daily high. December HRW wheat fell 1 3/4 cents to $5.75 3/4 and near mid-range. December spring wheat futures fell 7 cents to $6.06 3/4. The winter wheat futures markets today saw some chart consolidation following recent good gains.
Cotton: December cotton fell 19 points to 67.69 cents, nearer the daily low and hit a three-week low. The cotton futures market saw technical selling featured today as the near-term chart posture for the fiber has been deteriorating the past few trading sessions.
Cattle: October live cattle futures settled $1.75 higher at $176.925, nearer session highs. October feeder cattle futures climbed $3.775 to $234.725. Live cattle futures surged higher despite confirmation of another week of lower cash cattle trade.
Hogs: October lean hog futures sunk 70 cents to $78.80 and settled nearer session lows. Lean hog futures continue to undergo persistent selling pressure as cash prices resumed their seasonal downtrend.