CHICAGO (Dow Jones)–Friday’s U.S. Department of Agriculture ending stocks data were deemed by traders and analysts to be slightly bearish for Chicago board of Trade soybean, corn and wheat futures.
The report did not provide any surprises, with a drop in world ending stocks
or corn and wheat seen priced in the market considering the recent rally in
both markets, a CBOT floor trader said.
Soybean futures are forecast to begin day-session trading 2-5 cents lower,
corn futures are called to open 1-2 cents lower, and wheat futures are
redicted to begin trading 3-5 cents lower.