Today's Market View Corn Futures Expected to Open 2 to 4 Lower as of 7:15 a.m. CDT
17 minutes ago
Corn: Continued commercial buying has led to increased strength in the corn market. The carry in the new-crop futures spread continues to weaken, indicating a more bullish longer-term commercial outlook.
Soybeans: The soybean market remains in a sideways trend with recent action amounting to little. Futures spreads and trend remain flat, waiting for either side of the market to become interested.
Wheat: Buying tied to short-covering seems to be sparking the recent rally in wheat, as the commercial outlook remains bearish. Seasonally the market tends to turn more bullish in late summer.
Live Cattle: Noncommercial selling tied to the stronger U.S. dollar index and weaker DJIA had live cattle contracts on the defensive. However, some commercial buying has been seen.
Cotton: Solid commercial buying has been noted, leading to a sharp rally in the new-crop futures. The market hasn't broken out of its downtrend, but soon could if support continues to build.
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