A corn, soybean rally Monday
The CME Group corn, soybean and wheat markets are poised to trade sharply higher Monday.
The Early Calls for the commodities on Monday, June 25, 2012, are sharply higher. Corn is seen opening 17-18 cents higher, soybeans 28-30 cents higher, and wheat 13-15 cents higher.
In overnight trading, the July corn futures contract traded 18 cents higher at $6.09 per bushel. July soybean futures traded 34 1/2 cents higher at $14.77 per bushel, and July wheat traded 16 1/2 cents higher at $6.89 3/4. For July soybean meal futures, the contract traded $12.10 per short ton higher at $434.10. July soybean oil futures traded $0.89 higher at $50.63.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the sharply higher overnight markets.