Mostly higher corn, wheat markets Friday
With mostly higher overnight markets the CME Group corn and wheat markets could see follow-through to start Friday.
The Early Calls for the commodities on Friday, May 18, 2012, are mostly higher. Corn is seen opening 4-6 cents higher, wheat 1-2 cents higher and soybeans 4-6 cents lower.
In overnight trading, the July corn futures contract traded 4 1/2 cents higher at $6.29 1/2 per bushel. July soybean futures traded 6 1/4 cents lower at $14.31 3/4 per bushel, and July wheat traded 1 3/4 cents higher at $6.59 1/2. For July soybean meal futures, the contract traded $0.10 per short ton lower at $427.90. July soybean oil futures traded $0.18 lower at $50.54.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the mixed overnight markets.