Farm Markets Seen Mixed Thursday
On Thursday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Thursday, May 15, 2014, are weaker. Corn is seen opening 1-2 cents lower, soybeans 1-2 cents higher, and wheat 3-5 cents lower.
In overnight trading, the July corn futures contract traded 2 1/2 cents lower at $4.93 per bushel. July soybean futures traded 1/2 of a cent higher at $14.87. The July wheat futures contract traded 3 3/4 cents lower at $6.86. For July soybean meal futures, the contract traded unchanged at $486.50; July soybean oil futures traded $0.14 higher at $41.52.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.