Corn: December corn rose 4 cents to $4.81 1/4, ending near the session high. Corn futures continued in narrow, rangebound trade with early pressure stemming from soybean futures and unsupportive outside markets.
Soybeans: November soybeans rallied 2 cents before ending the day at $12.97 3/, near the session high. December soybean meal futures rallied $4.00 and settled at $389.80, while December soyoil fell 214 points and closed at 57.48 cents. Soybeans traded lower for most of the session though short covering surged prices higher into the close.
Wheat: December SRW wheat rose 9 1/2 cents at $5.89 and near the session high. December HRW wheat gained 3 1/4 cents to $7.14 1/2 and closed nearer the session high. Prices hit a two-year low early on. December spring wheat futures fell 1 1/2 cents to $7.69. Short covering was featured in the wheat futures markets today.
Cotton: December cotton rose 226 points to 88.17 cents--the highest closing price since Sept. 12. December cotton futures shrugged off last week’s losses to post a sizeable gain, with bulls capturing an increased technical position.
Cattle: October live cattle fell 10 cents to $186.975 and nearer the session high. October feeder cattle lost 32 1/2 cents at $258.825 today. Prices closed nearer the session high and hit a two-week low early on. It was a general risk-off trading day in the marketplace and that limited buying interest in the cattle futures markets.
Hogs: October lean hogs futures closed flat on the day at $81.525 despite a rise in the deferred contracts. Lean hog futures pivoted around unchanged for most of the session despite a surge in wholesale pork prices.