Corn, soybeans to start higher
On Thursday, the CME Group's corn, soybean and wheat markets are expected to start sharply higher.
The early calls for the commodities on Thursday, January 30 2014, are higher. Corn is seen opening 1-2 cents higher, soybeans 2-4 cents higher, and wheat 2-4 cents higher.
In overnight trading, The March corn futures contract traded 3 cents higher at $4.30. The March soybean futures contract traded 3 cents higher at $12.72. March wheat futures traded 3 3/4 cents higher at $5.55 per bushel. The March soymeal futures contract traded $0.20 per short ton lower at $423.10. The March soyoil futures traded $0.11 higher at $37.21.
In the outside markets, the Brent crude oil is $0.05 per barrel lower, the dollar is higher and the Dow Jones Industrials are seen higher. The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the stronger overnight markets.