Corn, Soybean Prices Seen Falling Monday
On Monday, the CME Group's corn and soybean markets are expected to start mostly lower.
The early calls for the commodities on Monday, July 7, 2014, are weaker. Corn is seen opening 2 to 4 cents lower, soybeans 7 to 9 cents lower, and wheat 2 to 4 cents higher.
In overnight trading, the Dec. corn futures contract traded 2 3/4 cents lower at $4.15 per bushel. Nov. soybean futures traded 8 cents lower at $11.33. The Sep. wheat futures contract traded 4 cents higher at $5.79. For Dec. soybean meal futures, the contract traded $2.90 per short ton lower at $360.20; Dec. soybean oil futures traded $0.01 lower at $38.77.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.