Corn, Soybean Prices Seen Jumping Up Friday
On Friday, the CME Group's corn, soybean, and wheat markets are expected to start higher.
The early calls for the commodities on Friday, August 15, 2014, are mostly stronger. Corn is seen opening 3 to 5 cents higher, soybeans 7 to 9 cents higher, and wheat 4 to 6 cents higher. In overnight trading, the Dec. corn futures contract traded 3 cents higher at $3.76 per bushel. Nov. soybean futures traded 7 1/2 cents higher at $10.63. The Sep. wheat futures contract traded 4 1/2 cents higher at $5.41. For Dec. soybean meal futures, the contract traded $4.10 per short ton higher at $355.20; Dec. soybean oil futures traded $0.13 lower at $33.73.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.