Corn: May corn rallied 9 cents to $4.83, a six-week high close. Corn futures edged higher for the fifth straight session and secured a fresh for-the-move high. Support stemmed from a plummeting U.S. dollar, while resumed selling in crude oil was largely disregarded.
Soybeans: May soybean futures surged 16 1/4 cents to $10.29 and closed on session highs. May meal firmed $3.40 to $297.90. May bean oil inched 13 points higher to 46.32 cents. Soybean futures saw impressive gains today, piggybacking yesterday’s gains as prices pushed to near the April highs.
Wheat: May SRW wheat fell 4 1/4 cents to $5.38 and nearer the daily low after hitting a three-week high early on. May HRW wheat lost 10 cents to $5.58, nearer the daily low and scored a bearish outside day down. May spring wheat futures skid 6 3/4 cents to $6.02. Risk aversion in the general marketplace amid another big sell off in the U.S. stock market today pressed the wheat futures markets lower.
Cotton: May cotton slid 16 points to 66.47 cents and settled nearer session lows. Cotton futures continue to see volatile trade, pushing to the highest mark in a week today before reversing and closing modestly lower on the session.
Cattle: June live cattle fell $3.175 to $195.20, nearer the session low. May feeder cattle lost $2.90 to $275.30, nearer the session low. The cattle futures markets today fell victim to a rapid return to keen risk aversion in the general marketplace as the U.S. stock market dropped sharply and took back about half of Wednesday strong gains, as of midday.
Hogs: June lean hogs rose $1.475 to $93.175 and near mid-range. The hog futures market performed well today in the face of a big sell off in the U.S. stock market and risk aversion that quickly returned to the general marketplace.