Today's Market View - Grains and Meats

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TFC Commodity Trading Forum

Today's Market View Corn Futures Expected to Open 1 to 3 Higher as of 7:15 a.m. CST
23 minutes ago

Corn: Spillover buying from beans and a stronger-than-expected weekly export sales number allowed the corn market to close with modest gains Friday. The new-crop December contract finished sharply higher on fears acreage estimates are too low.

Soybeans: Old-crop bean contracts struggled Friday on light noncommercial selling due to improved crop conditions in Argentina and thoughts the Brazilian crop may be understated by USDA.

Wheat: Wheat was sharply higher as rising global food prices have led to improved export business for the U.S. and a less-bearish supply and demand situation moving forward.

Cotton: Strong demand and tight global supplies continue to provide support to the cotton market with nearby contracts closing limit-up (4 cents) Friday.

Live cattle: Noncommercial traders liquidated a portion of their net-long futures position Friday ahead of the monthly Cattle on Feed report. The report showed a slightly larger-than-expected number of cattle placements in December.

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