Asia's leading economic research house LTN takes a look at the premarket for Agricultural products.

Chicago Wheat futures saw a recovery into the close to finish 0.02 to 0.0375 higher and Kansas City futures ended mostly around a 0.05 higher on Monday. While the winter Wheat markets ended near session highs, Minneapolis futures closed low-range with losses of 0.0475 to 0.105. Wheat futures were pressured for much of the session by negative outside markets as investors reacted to disappointing election results in Europe, primarily Greece.

After posting losses throughout the session, Corn futures staged an impressive rally into the close to finish narrowly mixed on the day. Early pressure came from uncertainty about the economic future of Europe after some Key leadership changes in Greece and France. But as the session finished, traders recognized that outside markets had reacted relatively quietly to the news and the stock market had even turned higher.

Malaysian palm oil futures gained on Tuesday, recovering from an 8-week low on Monday triggered by economic fears in the euro zone and the United
States, as buying interest returned.

Soybean futures posted a low-range close with losses of 0.095 to 0.1425. Much of Monday's pressure can be attributed to negative outside markets. The USD strengthened against the EUR on news France elected a Socialist president and Greek government supporters of austerity struggled in reelection efforts raising concerns previously announced bailout deals in Greece could fail.

Lean Hog futures ended mixed, with May and June Hogs 0.25 and 0.675 higher, respectively, while Jul through Oct Hogs ended 0.025 to 0.20 lower. Price action was choppy throughout the day, with buying limited by negative outside markets. Strength in the USD index faded this afternoon however, allowing some short-covering to reenter the Pit.

After seeing pressure most of the day Monday, live Cattle futures rallied to finish steady to 0.90 higher. Feeder Cattle futures extended gains into the close to finish 0.225 to 1.475 higher. Recognition that nearby live Cattle contracts are at a significant discount to last week's 120 to 123 cash Cattle prices opened the door for some buying interest heading into the close.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.