Corn, wheat to trade higher Thursday
On Thursday, the CME Group's corn and wheat markets are expected to start higher.
The early calls for the commodities on Thursday, March 13, 2014, are mostly higher. Corn is seen opening 2-4 cents higher, soybeans 1-2 cents lower, and wheat 3-5 cents higher.
In overnight trading, the May corn futures contract traded 2 cents higher at $4.90 per bushel. May soybean futures traded 1 cent lower at $13.86. The May wheat futures contract traded 5 3/4 cents higher at $6.89. For May soybean meal futures, the contract traded $0.40 per short ton lower at $436.10; May soybean oil futures traded $0.19 lower at $43.23.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.