Corn: March corn plunged 13 1/2 cents to $4.64 3/4, marking the lowest close since Jan. 13. Corn futures faced notable pressure with a firmer U.S. dollar overpowering corrective gains in crude oil futures.
Soybeans: March soybeans fell 4 cents to $10.37 1/4, while May soymeal fell $2.30 to $300.20, each closing nearer the session low. May soyoil fell 24 points to 45.35 cents. Soybeans eventually slumped after spending much of the session in positive territory while the rest of the ag complex took a socking.
Wheat: May SRW wheat fell 17 1/4 cents to $5.62 1/2, near the daily low and hit a four-week low. May HRW wheat lost 13 1/4 cents to $5.85 1/4, nearer the daily low. May HRS fell 13 cents to $6.04 3/4. The wheat futures markets today saw active selling pressure as risk aversion up-ticked after President Trump today said 25% tariffs against Canada and Mexico will take effect next week, adding that he would impose an additional 10% tax on Chinese imports.
Cotton: May cotton fell 27 points to 66.60 cents and nearer the daily low. Prices closed at a contract low close today. The cotton futures market saw some fresh technical selling today as prices are closing in on the contract low scored in early January.
Cattle: Cattle futures posted impressive gains Thursday. The expiring February contract rose 57.5 cents to $199.40, while most-active April surged $1.50 to $196.125. March feeder futures jumped $2.075 to $276.45.
Hogs: Tariff news triggered a big breakdown in hog futures Thursday, with the nearby April contract diving $3.925 to $84.375. Recent news concerning the cash hog and wholesale pork markets has been supportive.