Lower farm markets seen Monday
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start lower. WASDE Report to be released at 11:00 a.m. CT.
The early calls for the commodities on Monday, March 10, 2014, are weaker. Corn is seen opening 5 to 7 cents lower, soybeans 6 to 8 cents lower, and wheat 3 to 5 cents lower.
In overnight trading, the May corn futures contract traded 5 cents lower at $4.84 per bushel. May soybean futures traded 6 1/2 cents lower at $14.51. The May wheat futures contract traded 2 cents lower at $6.51. For May soybean meal futures, the contract traded $3.30 per short ton lower at $454.50; May soybean oil futures traded $0.01 higher at $44.33.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.