Corn, soybean prices seen falling Tuesday
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly lower.
The early calls for the commodities on Tuesday, March 11, 2014, are weaker. Corn is seen opening 1 to 2 cents lower, soybeans 1 to 2 cents lower, and wheat 3 to 5 cents higher.
In overnight trading, the May corn futures contract traded 1 cent lower at $4.77 per bushel. May soybean futures traded 1 3/4 cents lower at $14.17. The May wheat futures contract traded 3 1/2 cents higher at $6.44. For May soybean meal futures, the contract traded $0.50 per short ton lower at $444.20; May soybean oil futures traded $0.12 higher at $43.98.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.