Corn: May corn rose 1/4 cent to $4.64 1/2, notching a high-range close. Corn futures were able to rebound from the early morning low as the session progressed, though technical resistance at the 20-day moving average and a firmer U.S. dollar continued to limit a move higher.
Soybeans: May soybean futures sunk 2 1/2 cents to $10.07 1/4 and closed near mid-range. May meal futures closed $2.70 lower to $297.60. May bean oil climbed 14 points to 42.15 cents. After favoring the downside in overnight trade, soybeans chipped away at losses and closed nearly steady on the day as muted volatility persists.
Wheat: May SRW wheat fell 10 cents to $5.48 1/4, nearer the session low and hit a two-week low. May HRW wheat dropped 10 3/4 cents to $5.78, nearer the daily low. May spring wheat futures sunk 12 3/4 cents to $5.92 1/4. The wheat futures market bulls were hamstrung today due in part to reports the Trump administration said it will put trade sanctions on any country that buys Venezuelan oil.
Cotton: May cotton rose 15 points to 65.42 cents, closing nearer the session high. Cotton futures mildly favored the upside to begin the week as stronger equities helped offset pressure from a firmer U.S. dollar.
Cattle: April live cattle fell $1.05 to $205.90 and near the daily low. May feeder cattle lost 25 cents to $284.85, nearer the session low. The cattle futures markets today saw follow-through selling pressure and some chart consolidation following Friday’s losses.
Hogs: June lean hogs fell $1.675 to $95.80 and closed nearer session lows, while nearby April futures sunk 42.5 cents to $85.70. Lean hog futures gave up most of Friday’s gain as bulls struggle building much momentum amid a weakening lean hog index.