Corn, soybean markets to stumble Monday
On Monday, the CME Group's corn and wheat markets are expected to start lower.
The early calls for the commodities on Monday, March 17, 2014, are weaker. Corn is seen opening off 9 to 10 cents, soybeans 10 to 11 cents lower, and wheat 10 to 12 cents lower.
In overnight trading, the May corn futures contract traded 9 cents lower at $4.77 per bushel, while the Dec. corn traded 7 1/2 cents lower at $4.79.
May soybean futures traded 11 3/4 cents lower at $13.76. The Nov. soybean futures traded 5 cents lower at $11.69.
The May wheat futures contract traded 13 3/4 cents lower at $6.73. For May soybean meal futures, the contract traded $3.00 per short ton lower at $441.00; May soybean oil futures traded $0.26 lower at $42.03.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.