Farm markets seen mostly weaker Tuesday
On Tuesday, the CME Group's corn, soybean markets are expected to start lower, while wheat prices are seen slightly higher.
The early calls for the commodities on Tuesday, February 25, 2014, are mostly weaker. Corn is seen opening 1-2 cents lower, soybeans 1-2 cents lower, and wheat 1-2 cents higher.
In overnight trading, the May corn futures contract traded 1/4 of a cent lower at $4.57 per bushel. May soybean futures traded 1 3/4 cents lower at $13.73. The May wheat futures contract traded 1/4 of a cent higher at $6.17. For May soybean meal futures, the contract traded $0.70 per short ton lower at $448.00; May soybean oil futures traded $0.21 lower at $40.82.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.