Corn, Soybeans to Move Lower Friday
On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Friday, July 25, 2014, are lower. Corn is seen opening 2 to 4 cents lower, soybeans 10 to 12 cents lower, and wheat 1 to 2 cents lower. In overnight trading, the Dec. corn futures contract traded 3 cents lower at $3.66 per bushel. Nov. soybean futures traded 10 1/4 cents lower at $10.74. The Sep. wheat futures contract traded unchanged at $5.28. For Dec. soybean meal futures, the contract traded $2.40 per short ton lower at $347.60; Dec. soybean oil futures traded $0.26 lower at $36.09.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.