Farm markets seen weaker
On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Tuesday, December 17, 2013, are mostly weaker. Corn is seen opening 1-2 cents lower, soybeans 3-5 cents lower, and wheat 1-2 cents higher.
In overnight trading, the March corn futures traded 1/2 of a cent lower at $4.22 per bushel. January soybean futures traded 5 1/2 cents lower at $13.32. The March wheat futures contract traded 1/4 of a cent higher at $6.22. For March soybean meal futures, the contract traded $3.00 per short ton lower at $426.90; March soybean oil futures traded $0.05 higher at $40.15.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.