CORN: Corn futures are called 5 to 7 cents higher, Brugler Marketing said Tuesday morning.
Outside market forces are positive and fund traders appear more willing buyers of grain in recent days. Cash traders indicate that Japan has bought near 330,000 tonnes of corn from Argentina and has also bought 1.5 million tonnes of European corn. There is also talk that Japan seeks 1 million tonnes of US corn. This has traders a bit nervous that higher US prices could slow export demand.
SOYBEANS: Soybean futures are expected to open the day 3 to 5 cents higher, Brugler Marketing said.
China futures closed down 0.5% this morning due to weakness in palm oil and talk of improving crops in South America. Malaysia palm oil futures closed down 0.1%. Asian equity markets were higher this morning, but stocks in Australia and New Zealand were a touch lower. European equity markets were higher and seemed to be poised to finish up a rather positive month of trade, the CME said.
As seen on marketwatchonline.com
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