Corn, Soybean Markets Seen Falling Wednesday
On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Wednesday, April 23, 2013, are weaker. Corn is seen opening 1-2 cents lower, soybeans 6-8 cents lower, and wheat 3-4 cents lower.
In overnight trading, the July corn futures contract traded 1/4 of a cent lower at $5.01 per bushel. July soybean futures traded 6 3/4 cents higher at $14.64. The July wheat futures contract traded 3 3/4 cents lower at $6.75. For July soybean meal futures, the contract traded $2.30 per short ton lower at $468.00.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.