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Higher corn, soybean markets Monday

02/06/2012 @ 7:24am

Despite unfavorable outside markets, the CME Group corn, soybean and wheat markets will give higher trading a try Monday. 

The Early Calls for the commodities on Monday, February 6, 2012, are higher. Corn is seen opening 2-4 cents higher, soybeans 6-8 cents higher, and wheat 2-4 cents higher.

In overnight trading, the March corn futures contract traded 1 3/4 cents higher at $6.46 1/4 per bushel. March soybean futures traded 6 cents higher at $12.38 1/2 per bushel, and March wheat traded 1 1/4 cents higher at $6.62. For March soybean meal futures, the contract traded $0.10 per short ton higher at $329.60. March soybean oil futures traded $0.28 higher at $51.93.

The outside markets are not favorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.


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