Higher corn, soybean markets seen for Tuesday
On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, March 18, 2014, are stronger. Corn is seen opening 10-12 cents higher, soybeans 10-11 cents higher, and wheat 3-5 cents higher.
In overnight trading, the May corn futures contract traded 2 1/2 cents higher at $4.86 per bushel, while the Dec. corn traded 2 cents higher at $4.84.
May soybean futures traded 13 1/4 cents higher at $14.05. The Nov. soybean futures traded 1 1/2 cents higher at $11.77.
The May wheat futures contract traded 3 1/2 cents higher at $6.78. For May soybean meal futures, the contract traded $6.70 per short ton higher at $453.30; May soybean oil futures traded $0.03 lower at $41.86.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.