Farm markets to start lower Wednesday
On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Wednesday, February 12, 2014, are weaker. Corn is seen opening 1 to 2 cents lower, soybeans 2 to 4 cents lower, and wheat 1 to 2 cents lower.
In overnight trading, the March corn futures contract traded 2 cents lower at $4.39 per bushel. March soybean futures traded 3 1/2 cents lower at $13.31. The March wheat futures contract traded 3/4 cent lower at $5.89. For March soybean meal futures, the contract traded $1.50 per short ton lower at $447.70.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.