Friday's corn, soybean markets to dip
On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Friday, September 20, 2013, are lower. Corn is seen opening 1 to 2 cents lower, soybeans 10 to 12 cents lower, and wheat 4 to 5 cents lower.
In overnight trading, the Dec. corn futures traded 1 1/2 cents lower at $4.58 per bushel. The Nov. soybean futures traded 15 cents lower at $13.24. The Dec. wheat futures contract traded 4 cents lower at $6.53. For Dec. soybean meal futures, the contract traded $4.10 per short ton lower at $416.30; Dec. soybean oil futures traded $0.40 lower at $42.56.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.