Corn, Wheat Markets to Trade Higher Thursday
On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start mixed.
The early calls for the commodities on Thursday, April 24, 2013, are mixed. Corn is seen opening 1 to 2 cents higher, soybeans mixed, and wheat 8 to 10 cents higher.
In overnight trading, the July corn futures contract traded 1 3/4 cents higher at $5.11 per bushel. July soybean futures traded unchanged at $14.64. The July wheat futures contract traded 11 cents higher at $6.93. For July soybean meal futures, the contract traded $0.50 per short ton higher at $469.50. The July soyoil futures contract traded $0.16 lower at $42.62.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the mixed overnight markets.