Today's Market View Corn Futures Expected to Open 2 to 4 Higher as of 7:15 a.m. CDT
24 minutes ago
Corn: Increased long-liquidation had corn on the defensive to start the week, while commercial traders took to the sidelines. Movement in futures spreads should indicate whether or not the latter are concerned about weekly crop progress numbers.
Soybeans: The long-term trend remains sideways with contracts unable to break through the high side of the trading range. Volatility remains low and could ultimately draw in noncommercial money.
Wheat: The structure of the Chicago wheat market remains bearish. With a commercial outlook growing more bearish, as indicated by the strengthening carry in the futures spread, the nearby September contract could continue to work lower.
Live Cattle: Commercial pressure on the deferred contracts hints at possible cash weakness later this fall. Commodity-wide noncommercial long-liquidation is also strengthening the short-term downtrend.
Cotton: Commercial pressure continues to weigh on the cotton market. The new-crop December contract remains under pressure, strengthening its short-term downtrend.
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