Today's Market View - Grains and Meats

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TFC Commodity Trading Forum

Today's Market View Corn Futures Expected to Open 39 to 42 Higher at 7:15 a.m. CDT
Fri Apr 1, 2011 07:20 AM CDT

Corn: Corn locked limit up (30 cents) at the open and remained there, setting the stage for a test of the previous high at $7.34 3/4 as limits expanded to 45 cents overnight.

Soybeans: A bullish quarterly stocks and prospective plantings report along with the stronger corn market sparked a sharp double-digit rally in soybeans.

Wheat: Despite a bearish set of numbers from USDA Thursday morning, the wheat market rallied sharply, in part tied to surging corn futures.

Live Cattle: Live cattle contracts posted sharp triple-digit gains and new highs on spillover noncommercial buying from corn.

Cotton: A lower-than-expected acreage number for cotton (12.6 million acres) led to a limit-up (7 cent) gain in the December contract, settling within striking distance of the contract high.

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