By: NATHAN STUEDLE
CLOSING GRAIN MARKET SUMMARY
Grain futures finished mixed Tuesday, with wheat taking the biggest losses.
Corn ended narrowly lower. September corn finished at 4.63 and a quarter, down a penny and three-quarters, while December closed at 4.88, down a penny and a half. Deferred contracts were essentially steady.
Soybeans were mixed, but generally firmer in the deferred months. September beans slipped a quarter-cent to 12.00 and three-quarters, while November gained three-quarters to 12.16 and three-quarters. March gained two and a half cents, and July was up five. Soybean meal also finished modestly higher.
Wheat was the weak spot. September Chicago wheat dropped 10 and a quarter cents to 6.64 and a half, while December lost eight cents.
Kansas City wheat posted even larger losses, with September down 15 cents at 7.43 and three-quarters, and December down 13 and a quarter at 7.58 and a half.
Overall, a relatively quiet close for corn and soybeans, while selling pressure remained firmly in control of the wheat markets.
CLOSING LIVESTOCK MARKET SUMMARY
Livestock futures were mixed Tuesday, with cattle mostly higher while lean hogs finished sharply lower.
Live cattle posted modest gains across most contracts. August gained 35 cents to 224.90, October added 15 cents to 218.92, while December climbed 80 cents to 219.20. February cattle gained 90 cents, finishing at 219.80.
Feeder cattle were mostly higher after a mixed start to the board. August feeders slipped 75 cents to 339.22, but September gained 40 cents to 333.35. October feeders were up 97-and-a-half cents at 326.32, with most deferred contracts posting gains of 20 to 80 cents.
Lean hogs were lower across the board. October dropped a dollar to 80.72, December fell a dollar-60 to 70.92, and February lost a dollar-77-and-a-half to finish at 74 dollars even.
So, cattle managed a mostly positive close, while selling pressure dominated the lean hog trade.