Market Recap: Wheat Futures Soar on Export Demand

U.S. lean-hog futures ended sharply lower, falling amid concerns about demand as wholesale pork prices continue to decline. July lean hogs ended down 122 at $101, while August lean hogs were down 22 to 95.55.
CME live-cattle futures were mixed Monday, feeder-cattle were lower. August live cattle were up 12 to $122, while October live cattle were down 75 at $126. August feeder cattle slipped 2 at $151.

U.S. soybean futures for nearby delivery jumped to a 9 1/2-month high Monday amid concerns about tight domestic supplies. Corn futures climbed with soybeans, supported by tight supplies and concerns about crop-growing weather. U.S. wheat futures settled higher, supported by continued export demand from China.
 

July soybeans finished up 21 1/4 at $16.09, July corn finished up 7 at $6.91, July wheat in Chicago ended up 4 at $6.60, and Kansas City Board of Trade July wheat climbed 17 1/4 to $6.93.

Cotton futures ticked up Monday morning as the market continued to consolidate around 85 cents a pound for a fourth-consecutive session in very thin post-holiday trade. October cotton fell 6 to 86.37, and December new crop gained 30 to 85.33.

Gold and silver futures rebounded from Friday's lows amid a weaker dollar and a decline in yields on U.S. Treasury bonds. July gold gained $22.10 to $1,234.70, and July silver gained 28 cents to $19.01.
 

Crude-oil futures were slightly lower Monday, retreating after a surge to multi-month highs last week as investors keep close watch on the situation in Egypt.

August crude fell 8 cents to $103.14 a barrel, August gasoline dropped 1.31 cents to $2.8837 a gallon, and August distillates fell a fraction to $2.98 a gallon.
 

Natural-gas futures shot to a two-week high Monday, as traders expect hotter temperatures in the Midwest and Northeast to lift demand for gas-fired electricity. August Natural gas jumped 12.4 cents to $3.74.
 

On Wall Street, stocks advanced heading into the start of earnings season, building on gains sparked by last week’s robust employment report and pushing the S&P 500 closer to its all-time high set in May. The Dow gained 88 to close at 14,224, the Nasdaq closed at 3,484, up 5 and the S&P gained 8 to close at 1,640.