Corn, soybeans to push higher
The CME Group corn, soybean and wheat markets will have a stronger start to them Monday.
The early calls for the commodities on Monday, February 4, 2013, are higher. Corn is seen opening 2-4 cents higher. Soybeans are seen 10-12 cents higher and wheat 3-5 cents higher.
In overnight trading, the March corn futures contract traded 2 cents higher at $7.38 per bushel. March soybean futures traded 14 cents higher at $14.88 per bushel, and March wheat traded 4 cents higher at $7.69. For March soybean meal futures, the contract traded $4.30 per short ton higher at $432.50. March soybean oil futures traded $0.47 cents higher at $53.46.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.