Today's Market View Dec Corn Futures 6 Lower at 7:15 a.m. CDT; Open Subject to USDA Report
22 minutes ago
Corn: Noncommercial profit-taking and commercial selling pressured corn last week as the market structure grew less bullish. Look for volatility to pick up dramatically after USDA releases new crop production and supply and demand numbers Monday morning.
Soybeans: It was another quiet day Friday as traders took the sideline ahead of Monday morning's USDA reports, which are expected to show only minimal adjustments to both global and domestic balance sheets. A chance of frost in the Northern Plains this week should provide support.
Wheat: Sharp gains in the dollar were in part responsible for noncommercial traders adding to their net-short futures position in Chicago last week along with increasingly bearish near-term fundamentals.
Live Cattle: Strong buying from both sides of the market led the nearby October contract to its highest weekly settlement since early April on the continuous close chart, meaning the short-term trend has turned up.
Cotton: Friday saw the cotton market close lower, though sharp gains for the week indicate the market structure is growing more bullish -- strengthening uptrend and a growing bullishness by the commercial side.
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