Today's Market View Corn Futures Expected to Open 2 to 4 Lower as of 7:15 a.m. CDT
22 minutes ago
Corn: Strong buying from both sides of the market emerged to push contracts higher. The weak carry in deferred futures spreads continues to indicate uncertainty over fall production.
Soybeans: The market posted an unenthusiastic rally based largely on spillover support from corn. The structure of the soybean market remains neutral, indicating little change should be expected in the near future.
Wheat: Light noncommercial spillover buying from corn supported the Chicago corn market while the commercial outlook continues to grow more bearish.
Live Cattle: Despite the reversal seen in the Dow Jones Industrial Average, live cattle contracts were able to rally on light noncommercial buying interest. However, commercial selling was noted in the October contract as it lost ground to the December.
Cotton: As with other ag markets, noncommercial buyers were interested in the cotton market while commercial traders were sellers. The December contract continues to hold above nearby chart support.
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