The agricultural commodity futures markets were mixed on Monday, with corn and soybeans rising, wheat falling, and cotton and livestock futures rallying.
- Corn futures rose 2 cents to $4.85 3/4.
- Soybeans futures rallied 6 cents to $13.69.
- Wheat futures fell 11 1/4 cents to $5.84 1/2.
- Cotton futures rose 187 points to 87.78 cents.
- Live cattle futures rose $1.00 to $184.225.
- Feeder cattle futures gained $2.30 to $261.45.
- Lean hog futures rallied $1.025 to $82.55.
Corn futures rose on the back of expectations for strong demand from ethanol producers. Soybeans futures also rose, supported by forecasts for dry weather in key growing areas. Wheat futures fell on technical selling pressure. Cotton futures rose on weakness in the U.S. dollar and lingering supply concerns. Livestock futures rallied on strong cash market fundamentals.
Photo Credit: pexels-energepiccom
Categories: Kentucky, Crops, Corn, Soybeans