Grains higher on overnight follow-through
Following the overnight trade, the CME Group corn, soybeans and wheat prices could see a higher start Friday.
The Early Calls for the commodities on Friday, January 6, 2012, are higher. Corn is seen opening 4-6 cents higher, soybeans 6-8 cents higher, and wheat 5-7 cents higher.
In overnight trading, the March corn futures contract traded 4 1/2 cents higher at $6.47 3/4 per bushel. March soybean futures traded 6 3/4 cents higher at $12.15 3/4 per bushel, and March wheat traded 5 3/4 cents higher at $6.35. For March soybean meal futures, the contract traded $2.60 per short ton higher at $315.80. March soybean oil futures traded $0.33 higher at $52.39.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.