Momentum spread out across the entire commodities space is appearing in CBOT grain futures, with the most-active contracts up strongly ahead of today's open. "Corn and beans shot out of the gate last night and accelerated momentum that had been building into the holiday weekend," says Matt Zeller of StoneX in a note. Zeller says the below normal precipitation outlook alone isn't enough to support prices. CBOT corn rises 3.1% premarket, while soybeans climb 3% and wheat is up 1.8%. (kirk.maltais@wsj.com)
Dow Jones Newswires
Momentum Across Commodities Seen in Grains — Market Talk
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Momentum spread out across the entire commodities space is appearing in CBOT grain futures, with the most-active contracts up strongly ahead of today's open. "Corn and beans shot out of the gate last night and accelerated momentum that had been building into the holiday weekend," says Matt Zeller o…