Corn, Soybean Markets Seen Lower Thursday
On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Thursday, April 10, 2014, are lower. Corn is seen opening 2 to 4 cents lower, soybeans 7 to 9 cents lower, and wheat mixed.
In overnight trading, the May corn futures contract traded 2 1/4 cents lower at $5.00 per bushel. May soybean futures traded 7 cents lower at $14.88. The May wheat futures contract traded unchanged at $6.69. For May soybean meal futures, the contract traded $1.40 per short ton lower at $480.70; May soybean oil futures traded $0.39 lower at $42.52.
The outside markets are mostly favorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.