Soybean Futures Extend Rally
Corn: 3 to 5 cents lower.
Soybeans: 1 to 4 cents higher.
Wheat: 1 to 3 cents lower.
Cattle: Steady-firmer
Hogs: Steady-weaker
Soybean futures reached a 2 1/2-month high overnight as the market extended Monday’s rally triggered by USDA’s smaller-than-expected crop estimate. Corn and wheat futures weakened overnight. Malaysian palm oil futures rose nearly 6% behind demand from India, while front-month crude oil futures are down around 50 cents. U.S. stock index futures signal a lower open and the U.S. dollar index is up around 1,000 points.
