Today's Market View - Grains and Meats

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TFC Commodity Trading Forum

Today's Market View Corn Futures Expected to Open 8 to 10 Lower as of 7:15 a.m. CDT
25 minutes ago
Corn: Commercial pressure may be building in the old-crop market as attention switches to new-crop. The carry in the December-to-March spread continues to weaken.

Soybeans: The market remains vulnerable to renewed noncommercial long-liquidation, particularly if the carry in old-crop futures spreads continues to strengthen, indicating a more bearish commercial outlook.

Wheat: Despite news to the contrary, winter wheat contracts remain under pressure as neither side (commercial or noncommercial) want to step in as long-term buyers.

Live Cattle: Renewed noncommercial buying was noted during Wednesday's rally. The commercial side remains in question following the recent strength of the August contract versus the June.

Cotton: The market continues to struggle with noncommercial long-liquidation pressure. In the new-crop market, the weakening inverse in the futures spreads indicates commercial pressure as well.

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