Today's Market View Corn Futures Expected to Open 13 to 15 Higher as of 7:15 a.m. CDT
22 minutes ago
Corn: After testing key price support near $6.31 on the continuous weekly chart, December corn rallied sharply and closed 18 cents off the low at $6.30 on renewed buying from both commercial and noncommercial traders.
Soybeans: If not for spillover buying from the other grains and the triple-digit gain in the Dow Jones Industrial Average, bean contracts would have likely closed lower Monday given the increasingly bearish commercial outlook near-term.
Wheat: The fundamentally bearish Chicago market continues to lose ground to the more bullish supply and demand situations longer-term in the Kansas City and Minneapolis markets, though Chicago contracts did close 20-plus cents off session lows.
Live Cattle: Limit-up (3-cent/lb.) gains were posted in live cattle contracts as a result of Friday's bullish Cattle on Feed report that showed lower-than-expected placements and reduced cattle numbers for August..
Cotton: Cotton contracts closed with solid losses, though the nearby October issue continues to hold above key price support at 97.35 on the continuous weekly close chart.
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