Today's Market View Corn Futures Expected to Open 6 to 7 Lower as of 7:15 a.m. CST
23 minutes ago
Corn: A rumor China would replace corn purchases with Australian feed wheat buys sparked heavy selling from both sides of the market Wednesday.
Soybeans: Spillover noncommercial selling pulled contracts well off session highs by the close. Follow-through commercial selling is cause for concern as short-term fundamentals grow more bearish.
Wheat: Wheat contracts were supported by strong demand and a report China could buy 500,000 mt of Australian feed wheat in coming weeks.
Cotton: Follow-through buying by both sides of the market led to sharp gains in cotton as the long-term supply and demand situation remains bullish.
Live cattle: Sharp losses in corn and overbought conditions led to a weaker day for cattle on noncommercial long-liquidation.