Dollar's Surge Dents Commodities Amid 'Turnaround Tuesday'
The US dollar index hit a 2.5-month high on September 22, 2026, which had a bearish effect on various markets. The December corn futures fell 6.25 cents to $5.36.75, near the daily low, after a 'Turnaround Tuesday' session following Monday's gains.
The soybean market saw mild support due to the strong rebound in meal futures, with November soybeans falling 2.50 cents to $13.25.50 and December soybean oil dropping 93 points to 67.92 cents, its lowest close in three weeks.
Wheat futures markets saw technical selling pressure as both SRW and HRW are in downtrends, with December SRW falling 9.50 cents to $7.17.25, December HRW down 13.25 cents to $7.81.25, and December spring wheat futures dropping a dime to $7.36.25.
Cotton futures saw a corrective pullback after Monday's gains, with December cotton falling 55 points to 82.87 cents. The live and feeder cattle futures markets also gave back some of their Monday gains, with October live cattle down $2.175 to $218.775 and November feeder cattle losing $2.90 to $323.20.
However, the lean hog futures market saw more short covering, with October lean hogs rising $1.125 to $79.275, near its daily high.