Today's Market View Corn Futures Lower Ahead of Gov't Reports
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Corn: The market struggled again Wednesday, tied to selling from both commercial and noncommercial traders, setting up a possible change in trend.
Soybeans: Concerns acreage will decrease from last year and harvest delays in Brazil sparked a double-digit rally for a second straight day Wednesday.
Wheat: Despite continued dry weather in the southwestern Plains, fundamentals remain bearish in winter wheat as indicated by the strong carry in new-crop spreads in Chicago and Kansas City.
Live Cattle: Heavy buying from both sides of the market sparked another triple-digit rally in cattle pointing to increasingly bullish fundamentals.
Cotton: It was a "same story, different day" situation for cotton as new-crop contracts rallied, tied to acreage concerns, while old-crop issues were pressured lower by noncommercial long-liquidation.