| Soybean futures ended 33 to 37 cents higher in most contracts today and finished near session highs. Meal futures closed around $7 higher, while soyoil firmed around 200 points in most contracts. Soybean futures were largely influenced by outside markets today, as speculators actively moved back into the long side of commodities and stocks and sold the dollar.

Corn futures closed 15 3/4 to 16 1/2 cents higher in the December through July contracts. September corn futures were 11 3/4 cents higher today, while 2011-crop contracts ended around 9 cents higher. Corn futures closed in the upper end of today’s range, but off session highs. Corn futures rode the wave of commodity strength today amid sharp pressure on the U.S. dollar.

Wheat futures closed 11 to 13 cents higher in Chicago, 14 to 16 cents higher in Kansas City and 12 to 15 cents higher in Minneapolis. Despite the strong gains, futures ended well off the session high at all three exchanges. Wheat futures were supported by broad-based buying in the commodity sector today. Sharp losses in the dollar contributed to the bullish tone. Fundamental support came from very strong demand news.

The December through May cotton contracts ended limit up (500 points higher). The July contract closed just off limit higher, while 2011-crop contracts ended sharply higher, but not near limit up. Trading limits are expanded to 600 points for Friday. Cotton traders took their trading clues from outside markets today. With the dollar sharply lower, cotton traders had the green light to actively flow money back into the long side of the market today.

Lean hog futures closed sharply higher in all but the December contract, which ended 2 1/2 cents higher. A strong inflow of speculative money into commodities spurred active buying in the lean hog market today. After recent liquidation pressure, hog traders decided to move back into the long side of the market. With the high-range close, bulls have momentum to close out the week.

Live cattle futures closed $1.45 to $1.90 higher today. Feeder cattle posted strong gains in all but the November contract, which expired 25 cents higher. Cattle futures were boosted by aggressive speculative buying today. Investors actively sought risk today, as the dollar was sharply lower, while commodities and the stock market posted strong gains.

Bron:CME