Morning Calls & Comments (10/12)
Corn: 2 to 3 cents lower.
Soybeans: 4 to 5 cents lower.
Wheat: 5 to 10 cents lower.
Cattle: Steady-firm
Hogs: Steady-mixed
Grain and soybean futures fell overnight as traders readied for USDA’s monthly Crop Production update, which is expected to reflect slightly smaller corn production and a slightly larger bean crop. Wheat futures also traded lower overnight. Malaysian palm oil futures rose 1.1%, the market’s eighth gain in the past nine sessions, while front-month crude oil is down slightly. U.S. stock index futures signal a firmer open and the U.S. dollar index is marginally higher.
