Demand to push up soybeans Wednesday
The CME Group corn, soybean, and wheat markets are poised to extend gains from yesterday, following high prices overnight Wednesday.
The early calls for the commodities on Wednesday, November 21, 2012, are higher.
Corn is seen opening 1 to 2 cents higher, soybeans 5 to 7 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the December corn traded 1 cent higher at $7.45 per bushel, while the January soybean futures traded 5 cents higher at $14.18 per bushel. December wheat futures traded 1/2 cent higher at $8.45.
The outside markets are mostly favorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.