Corn, Soybean Markets Seen Lower Friday
On Friday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Friday, April 11, 2014, are lower. Corn is seen opening 2-4 cents lower, soybeans 7-9 cents lower, and wheat lower.
In overnight trading, the May corn futures contract traded 1 cents lower at $5.00 per bushel. May soybean futures traded 6 3/4 cents lower at $14.75. The May wheat futures contract traded 5 1/4 cents lower at $6.57. For May soybean meal futures, the contract traded unchanged at $479.50; May soybean oil futures traded $0.34 lower at $42.16.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.