Higher farm markets seen Monday
On Monday, the CME Group's soybean market is expected to start higher.
The early calls for the commodities on Monday, March 24, 2014, are higher. Corn is seen opening 2 to 4 cents higher, soybeans 8 to 10 cents higher, and wheat 7 to 9 cents higher.
In overnight trading, the May corn futures contract traded 4 cents higher at $4.83 per bushel. May soybean futures traded 8 1/4 cents higher at $14.17. The May wheat futures contract traded 7 3/4 cents higher at $7.01. For May soybean meal futures, the contract traded $2.90 per short ton higher at $458.80; May soybean oil futures traded $0.07 higher at $41.09.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the higher overnight markets.