Lower Corn, Soybean Markets Seen Monday
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start lower.
The early calls for the commodities on Monday, June 9, 2014, are weaker. Corn is seen opening 4 to 5 cents lower, soybeans 3 to 5 cents lower, and wheat 1 to 2 cents lower.
In overnight trading, the July corn futures contract traded 4 3/4 cents lower at $4.54 per bushel. July soybean futures traded 3 1/4 cents lower at $14.53. The July wheat futures contract traded 1 3/4 cents lower at $6.17. For July soybean meal futures, the contract traded $7.10 per short ton lower at $480.50; July soybean oil futures traded $0.40 higher at $39.41.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.