Today's Market View Corn Futures are Steady to 1 Lower at 6 a.m. CST
40 minutes ago
Corn: The nearby March contract posted a weekly settlement above $6.00 on the continuous weekly chart for the first time since mid-July 2008 as the market structure continues to grow more bearish.
Soybeans: Sharp gains Thursday on buying from both sides of the market pushed the nearby January contract past the November high at $13.37 3/4, setting up a likely test of the next price target near $13.70 this week.
Wheat: Despite being an unwilling follower of the other grains Thursday, the nearby March Chicago contract closed well above last week's high, setting up a possible bullish breakout on the continuous weekly chart.
Live Cattle: The uptrend strengthened last week in live cattle as noncommercial traders continue to add to their sizeable net-long futures position.
Cotton: Despite export sales of almost double the week prior, the nearby March contract settled the expanded limit-down (6 cents) as noncommercial traders' book profits after prices reached an all-time high Tuesday.