Grain Prices Swing Amid Technical Selling and Short-Covering

Corn futures rose by 2 cents to $4.62 on August 6th, after hitting a three-week low early in the session.

The corn market saw technical selling pressure throughout the day, but a late short-covering rally helped lift prices near the close.

Soybean complex markets also experienced mild technical selling pressure, with November soybeans rising by 3 cents to $11.77 3/4 and September soybean meal gaining $1.40 to $311.60.

However, wheat futures declined sharply, with September SRW falling by 11 cents to $6.31 1/4 and hitting a nearly four-week low.