Today's Market View Corn Futures Expected to Open 5 to 6 Lower as of 7:15 a.m. CST
23 minutes ago
Corn: Overbought conditions as noncommercial traders hold a net-long futures position just shy of 500,000 contracts could spark a short-term sell-off in corn with additional pressure coming from the commercial side.
Soybeans: Light selling from both sides of the market due to a lack of fresh news pushed bean contracts lower. And with noncommercial traders holding a sizeable net-long position, further long-liquidation could materialize near-term.
Wheat: Another round of frigid temperatures for the Southern Plains this week possibly damaging the HRW wheat crop in areas due to a lack of snow cover led to solid double-digit gains in the Kansas City market.
Cotton: With planting intentions coming in at the low side of expectations, cotton contracts exploded higher due to a tight margin for error when it comes to 2011 production.
Live cattle: The weaker corn market, ideas the live cattle market is overbought and talk retail prices may start to ration demand led to follow-through noncommercial long-liquidation Monday.