All commodities are starting the week off on the down side. Harold House with the Kansas City Trade Group talks more about where the markets stand this morning.
Corn contracts posted solid double-digit losses on the open of the overnight session, pulling wheat and soybeans lower as well. While corn extended its loss through early Monday morning, the other grains were able to stabilize. Outside markets saw renewed support with both gold and crude oil rallying. Dow Jones Industrial Average futures indicate US stocks should continue historic rally.
Live feeder cattle futures should open moderately higher, supported by short covering and the large premium of cash feedlot sales. Look for lean hog contracts to start out on a mixed basis tied to light bear spreading and profit taking.
Click below to hear more from Kansas City Trade Group’s, Harold House: