Corn: December corn futures fell 9 1/4 cents to $4.76 1/2, nearer the session low. The corn market today was hit by a batch of bearish USDA data.
Soybeans: November soybeans fell 22 1/2 cents to $13.46 1/2, ending the session below the 20- and 40-day moving averages and marking the lowest close since Aug. 22. December meal fell $6.80 to $398.10, while December soyoil fell 43 points to 60.07 cents. Soybean bulls seemingly relented ahead of USDA’s September crop reports, though selling was amplified following their release, with the new-crop November contract reaching the lowest level in nearly three weeks.
Wheat: December SRW wheat rose 3 cents to $5.87 1/2, closing nearer the session high. Prices hit another contract low today. December HRW wheat gained 7 cents at $7.30 3/4. Prices closed nearer the session high and hit another two-year low early on. December spring wheat rose 12 1/4 cents to $7.79. There were no big surprises in today’s USDA monthly supply and demand report.
Cotton: December cotton rose 52 points to 88.30 cents, ending near the session high and marking the highest close since Sept. 5. Cotton futures found a bid following the release of USDA’s September crop reports, which featured notable reductions in anticipated production.
Cattle: October live cattle futures ended the day 7.5 cents lower at $184.15, despite trading as low as $183.05. October feeder cattle futures closed 20 cents lower at $261.25, though deferred contracts saw slight gains Cattle futures finished the day around unchanged despite volatile grain trade, as futures traders wait for cash trading to develop this week.
Hogs: October lean hog futures led the nearby contracts higher Tuesday, leaping $2.725 to $85.275, whereas the deep deferred contracts dipped on the day. The hog index has seemingly stabilized just above $86.00, which in turn appeared to trigger fresh buying today.