Today's Market View Corn Futures Expected to Open 7 to 9 Lower as of 7:15 a.m. CDT
25 minutes ago
Corn: The market will continue to be largely influenced by the weather as contracts posted solid gains Friday on renewed noncommercial buying interest tied to the hot 10-day weather forecast.
Soybeans: Soybeans remain locked in their sideways trend, though could test the high side near $14.11 this week as long as weather forecasts don't change drastically.
Wheat: A late round of noncommercial short-covering activity sparked a solid double-digit rally in Chicago wheat Friday. However, the commercial outlook grew more bearish last week as indicated by strengthening carry in the September-to-December futures spread.
Live Cattle: Larger-than-expected placements in June -- 4.1% more than last June as compared to pre-report estimates for a 7.6% less than last year at the same time -- could result in sharp losses in nearby contracts this week.
Cotton: The stronger U.S. dollar index limited buying interest in cotton Friday, though it appears the market may have reached a bottom technically last week after closing well off a test of key support.
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