Commodities
Grains Trade Near Key Support Amid Bearish Momentum
Corn, soybeans, and wheat futures are trading near recent lows on Thursday morning.
According to Pro Farmer's Ahead of the Open report, corn is expected to be 1-3 cents lower, while soybeans may rise by 2-4 cents. Wheat, however, is predicted to drop by 8-10 cents.
The report notes that each of these commodities is near key technical support levels, which could provide relief bounces. However, bearish momentum is building in the market.
The U.S. dollar index has risen by around 500 points this morning, with front-month crude oil futures also trading higher.