Chicago Mercantile Exchange cattle futures declined for a second straight session on Wednesday in a profit-taking and technical-selling correction from recent highs.
U.S. corn futures fell from a six-week peak on Wednesday on profit-taking and technical selling after three sessions of gains as an expected record-large U.S. harvest weighed on the market.
Chicago Mercantile Exchange cattle futures dipped on Tuesday as gains fueled by tight cattle supplies and strong demand faded amid concerns that high beef prices and cooling weather could soon affect retail meat sales, analysts said.
U.S. soybean futures fell to a 1-1/2 week low on Tuesday as China continued to shun purchases from the United States and as forecasts for improved rains in the coming days reinforced expectations for a sizeable Midwest harvest.
Chicago Board of Trade corn futures firmed on Friday on support from strong international demand, concerns over disease in the U.S. Midwest and technical support, analysts said.
Chicago soybean futures came under pressure on Thursday on a lack of Chinese demand for the U.S. oilseed while corn futures ticked higher on strong export sales data, analysts said.
Chicago Mercantile Exchange cattle futures fell on Thursday on technical selling after live and feeder cattle futures hit contract highs in the previous day.
Chicago wheat futures lost ground on Wednesday, with prices weighed down by large global harvests, favorable weather in growing areas, and a strong U.S. dollar, analysts said.