By: NATHAN STUEDLE
GRAINS:
March corn closed down 1/2 cent and May corn was down 3/4 cent. March soybeans closed down 5 3/4 cents and May futures were down 6 1/4 cents. March KC wheat closed up 3/4 cents, March Chicago wheat was down 2 cents, March Minneapolis wheat was down 4 cents.
Row-crop futures looked to be heading toward back-to-back positive moves to begin the first full trading week of 2026; but sellers reemerged by early afternoon, sending prices well below daily highs by the close. Fundamental news for Tuesday was limited, and thus market bulls clearly lacked much in the way of reassurance to extend Monday's price bounce. Outside markets saw equities firmer with the Dow Jones reaching further into record highs to begin the New Year. Meanwhile, energy markets were mostly lower, continuing an overall sideways action seen through the past two weeks.
LIVESTOCK:
The live cattle complex continued to charge onward as traders remain enthusiastic about what's to come in 2026. After breaking through the market's resistance at its 100-day moving average, we have accomplished a big technical feat and so far this week contracts charge on with gusto. It will be vital for the market's long-term potential that fundamental support arises -- especially in the form of cash cattle prices. It's been too early in the week for any cash cattle trade to have developed, and at this point bids and asking prices remain elusive. Boxed beef prices are lower: choice down $0.51 ($353.19) and select down $0.69 ($350.81) with a movement of 90 loads (66.54 loads of choice, 11.06 loads of select, 3.94 loads of trim and 8.42 loads of ground beef).
With the additional help of seeing the live cattle contracts trading higher, the feeder cattle complex continued to make substantial moves higher throughout the futures complex. Noting some of the feeder cattle sales that took place on Monday, prices were mostly higher on both feeders and calves.
Although the lean hog complex desires to trade higher, the market is cautious to do so as it's traded exponentially higher in recent days and consumer support isn't currently showing to be as strong as traders had hoped.