Stewart-Peterson Market CommentaryClosing Commentary - September 30, 2014
Stewart Peterson Opening Calls 9-30-14
CORN: Corn futures opened 1-1/2 cents lower. Look for choppy,
two-sided trade ahead of the late-morning quarterly Stocks report.
Meanwhile, a 50 point spike in the dollar to new highs will act as a
drag on commodity prices
SOYBEANS: Soybean futures opened 7 cents lower amid a plethora
of bearish factors, including an 1% increase in Monday's USDA crop ratings.
November futures faces a test of yesterday's new contract low of 9.05-1/2.
WHEAT: Wheat futures opened 5 cents lower, resuming the bearish
trend. Technically, prices are trying to build a base after falling
3.00 per bushel over the past 5 months.
CATTLE: Cattle futures are higher with strong gains in Feeders
propping up the meats. Feeders are technically overbought and due for
a setback. However, the bulls remain in control of the immediate trend.
Live cattle are firm. Feeders are .750 to 1.200 higher.
HOGS: Hog futures are .500 higher and back to within their sideways
range that was in place prior to Monday's early-session sell-off. Yesterday's
bullish performance favors the buyers.
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