Farm markets seen advancing Friday
On Friday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Thursday, February 28, 2014, are higher. Corn is seen opening 1-2 cents higher, soybeans 7-8 cents higher, and wheat 5-7 cents higher.
In overnight trading, the May corn futures contract traded 1 3/4 cents higher at $4.56 per bushel. May soybean futures traded 8 cents higher at $13.98. The May wheat futures contract traded 7 1/4 cents higher at $5.96. For May soybean meal futures, the contract traded $2.50 per short ton higher at $454.10; May soybean oil futures traded $0.23 higher at $41.38.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.