Farm Markets Seen Mixed Monday
On Monday, the CME Group's corn, soybean and wheat markets are seen mostly lower.
The USDA will release its March Planting Intentions Report/Quarterly Stocks Report at 11:00 a.m. CT, Monday.
The early calls for the commodities on Monday, March 31, 2014, are mostly lower. Corn is seen opening 2 to 4 cents lower, soybeans 1 to 2 cents higher, and wheat 5 to 7 cents lower.
In overnight trading, the May corn futures contract traded 4 3/4 cents lower at $4.87 per bushel. May soybean futures traded 1 cent higher at $14.37. The May wheat futures contract traded 6 1/4 cents lower at $6.89. For May soybean meal futures, the contract traded $0.10 per short ton higher at $468.50; May soybean oil futures traded $0.13 higher at $40.61.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.