Soybean futures extended gains into the close to finish mostly 16 to 19 1/4 cents higher. Meal saw spillover support, with soyoil weaker on spillover from crude oil. Traders had a flurry of fresh news to factor into soybean futures today. Dollar weakness and a stronger-than-expected weekly export sales tally provided early support.

Corn futures ended around 15 cents higher in old-crop contracts, 12 1/2 cents higher in the September contract and around a dime higher in new-crop contracts. Futures posted a session-high close. Funds were active buyers in the corn market today. With the session-high close, bulls carry momentum into overnight trade.

Wheat futures benefitted from spillover from the corn and soybean markets, with Chicago closing 9 1/2 to 13 3/4 cents higher. Kansas City wheat closed 8 1/4 to 10 cents higher, with Minneapolis up 7 1/2 to 15 cents. This morning’s weekly sales report was a disappointment for the market, as traders expected the recent price break to trigger a round of strong buying.

Cotton futures ended mixed amid bull spreading. March through July contracts closed 373 to 510 points higher. October cotton closed 92 points lower, with the rest of the new-crop contracts posting steeper losses. Nearby futures saw early support from this morning’s weekly sales report, showing sales of 153,300 running bales for the current marketing year and sales of 250,000 bales for the upcoming season.

Lean hog futures finished 55 cents to $1.12 1/2 higher, with summer-month contracts leading gains. Lean hog futures were initially supported by spillover from the cattle market and a sharp rally in the stock market. Gains were extended later on support from a proposed deal reached between the U.S. and Mexico over the long-standing trucking dispute.

Live cattle futures closed 62 1/2 to $2 higher today. The lead-month April contract led gains. Feeder cattle futures closed 60 to 87 1/2 cents higher. April live cattle futures were supported by stronger-than-expected cash cattle prices late Wednesday afternoon and a surge in the stock market tied to a friendly jobless claims figure.

Bron: CME