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Mostly higher corn, wheat markets Friday

05/18/2012 @ 7:42am

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.

Discuss the corn, soybean and wheat markets in Marketing Talk.

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