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TFC Commodity Trading Forum

Today's Market View - Grains and Meats

Today's Market View Markets Waiting for USDA Reports
Wed Jan 12, 2011 07:19 AM CST

Corn: After posting solid gains for a majority of the session, corn contracts settled near unchanged due to spillover pressure from the sell-off in soybeans.

Soybeans: Position-squaring ahead of Wednesday morning's USDA reports led to sharp losses in soybeans Tuesday.

Wheat: For a second straight session, wheat was unable to hold early gains and posted modest losses on noncommercial long-liquidation.

Cotton: Cotton finished limit-up (4 cents) on heavy noncommercial buying as traders expect USDA to confirm the bullish global supply and demand situation Wednesday morning.

Live cattle: Live cattle contracts closed with sharp triple-digit gains on technical momentum and higher cash prices.