US lean hog futures settled lower amid broad-based commodity selling. June lean hogs lost 25 to 93.22, and July ended off 45 at 93.42.
Cattle futures closed slightly lower as broad-based commodity selling dragged prices lower. June live cattle fell 12 to $109, May Feeder cattle ended up 75, at $128.
US wheat futures closed sharply lower on spillover selling from a limit-down drop in the corn market. July wheat in Chicago sank 39 3/4 to $7.59, July wheat in KC dropped 28 1/2 to $9; and MGE July slid 33 ¾ to $9.25.
US corn futures finished limit down as USDA's increased inventory estimate surprises traders expecting supplies to decline or stay steady. July corn dropped 30 to $6.77.
US soybean futures stumbled on less-threatening supply forecasts and a tumble in corn, Soy-product futures fall, with soy oil being hit by higher supply forecasts and spillover weakness from plunging crude futures. July soybeans fell 6 1/4 to $13.31, July soy oil ended down 53 at 56.29 while July soy meal dropped 270 to $347.60.
July Cotton fell 110 to close at $1.50, and December new crop fell 73 to close at $1.25.
Silver and gold extended losses Wednesday after a sharp drop in energy futures sent traders scrambling to the sidelines. July silver fell $2.9 to $35.51, June gold plunged $15.50 to $1,501.40.
Gasoline futures plunged Wednesday, pulling the price of oil with it, after an unexpected rise in U.S. inventories. June crude oil dropped $5.67 to $98.21 a barrel, June gasoline fell 25.69 cents to $3.12 a gallon, and June distillates fell 10.29 cents to $2.89 a gallon.
Natural-gas futures fell Wednesday as traders bet demand for the fuel would moderate with mild weather in the coming weeks and steep losses in crude oil weighed on market sentiment. June Natural gas fell 6.5 cents to $4.18.
On Wall Street Wednesday, the markets were deep in the red as tumbling commodity prices weighed on energy and material shares. The Dow fell 130 to close at 12,630, the Nasdaq closed at 2,845, down 26 7/8, and the S&P 500 dropped 15 to close at 1,342.