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TFC Commodity Trading Forum

Today's Market View - Grains and Meats

Today's Market View Corn Futures are Steady to 1 Lower at 6 a.m. CST
39 minutes ago

Corn: March corn extended its uptrend Wednesday by closing above resistance at $6.05 on buying from both sides of the market, setting up a possible test of the next price target near $6.17.

Soybeans: The bean market limped along in modestly higher trade with support tied to follow-through commercial buying as indicated by the weakening carry in spreads.

Wheat: After trading near double-digits lower early in the session, Chicago wheat staged an impressive rally to close sharply higher on technical buying.

Live Cattle: In thin trade, the cattle market posted sharp double-digit gains extending the short-term uptrend putting the nearby contract in position to test the June 2008 high.

Cotton: Noncommercial long-liquidation led to limit-down (5-cent) losses in cotton Wednesday. With the market posting an all-time high Tuesday, additional downside potential exists near-term