Higher Corn, Soybean Markets Seen for Monday
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start higher.
The early calls for the commodities on Monday, August 4, 2014, are stronger. Corn is seen opening 2 to 4 cents higher, soybeans 12 to 14 cents higher, and wheat 9 to 10 cents higher. In overnight trading, the Dec. corn futures contract traded 2 1/2 cents lower at $3.64 per bushel. Nov. soybean futures traded 13 cents higher at $10.71. The Sep. wheat futures contract traded 9 3/4 cents higher at $5.44. For Dec. soybean meal futures, the contract traded $5.60 per short ton higher at $348.00; Dec. soybean oil futures traded $0.17 higher at $35.88.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.