Grains to shoot higher Thursday
On Thursday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Thursday, January 23, 2014, are higher. Corn is seen opening 2-4 cents higher, soybeans 3-5 cents higher, and wheat 8-10 cents higher.
In overnight trading, the March corn futures contract traded 3 cents higher at $4.29 per bushel. The March soybean futures traded 5 3/4 cents higher at $12.85. The March wheat futures contract traded 10 1/4 cents higher at $5.71. For March soybean meal futures, the contract traded $1.70 per short ton higher at $421.10; March soybean oil futures traded $0.19 higher at $38.03.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.