Grain Futures Tumble on Harvest Pressure, Cattle Prices Soar

Grain futures ended lower on Wednesday, as harvest pressure and technical selling weighed on the market. Corn futures closed between 4 to 7 cents lower, with December corn down more than 7 cents overnight due to ongoing harvest activity and a stronger US dollar.

The firmer dollar reached a seven-week high, adding another headwind for US commodity prices. The USDA reported a fresh sale of 100,000 metric tons of corn to Mexico, but it wasn't enough to reverse the weaker tone in the market.

Soybeans also fell, ending between 5 to 8 cents lower as traders continued to watch harvest progress and developments surrounding US-China trade discussions. Wheat contracts finished roughly 7 to 9 cents lower, with both Chicago and Kansas City wheat falling to nearly four-week lows overnight due to technical weakness in the winter wheat markets.

On the other hand, cattle futures moved sharply higher on Wednesday, reversing Tuesday's losses and continuing the market's recent pattern of large day-to-day swings. Live cattle finished between $2 to $3 higher, supported by technical buying after futures held key support earlier in the week.