Today's Market View - Grains and Meats

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TFC Commodity Trading Forum

Today's Market View Corn Futures Expected to Open 5 to 7 Higher as of 7:15 a.m. CST
23 minutes ago

Corn: Last week's sharp gains strengthened the uptrend and could lead to a bullish breakout for corn after the nearby contract closed at its highest level since July 2008 on the continuous weekly chart.

Soybeans: Light buying from both sides of the market allowed a bullish outside week to be formed as the nearby contract traded above and below the previous weeks high and closed above the previous week's high.

Wheat: Wheat struggled Friday on a lack of buying interest due to the absence of spillover support from grains and the stronger dollar.

Cotton: Cotton settled at a four-week low on continued noncommercial long-liquidation from their sizeable net-long futures position.

Live cattle: The market closed lower on overbought conditions and ideas futures premiums are too high to support short-term fundamentals.

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