Corn, Soybeans Seen Starting Higher Tuesday
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, September 2, 2014, are mostly stronger. Corn is seen opening 1 to 2 cents higher, soybeans 4 to 6 cents higher, and wheat 1 to 2 cents lower. In overnight trading, the Dec. corn futures contract traded 3/4 cent higher at $3.65 per bushel. Nov. soybean futures traded 3 3/4 cents higher at $10.28. The Dec. wheat futures contract traded 1 1/2 cents lower at $5.62.
For Dec. soybean meal futures, the contract traded $0.20 per short ton higher at $350.90; Dec. soybean oil futures traded $0.20 higher at $32.34.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.