Mostly lower corn, wheat markets seen Tuesday
On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start mixed.
The early calls for the commodities on Tuesday, April 15, 2014, are mostly lower. Corn is seen opening 2-4 cents lower, soybeans 5-7 cents higher, and wheat 1-2 cents lower.
In overnight trading, the May corn futures contract traded 2 3/4 cents lower at $5.00 per bushel. May soybean futures traded 8 3/4 cents higher at $14.85. The May wheat futures contract traded 1/4 of a cent lower at $6.78. For May soybean meal futures, the contract traded $4.70 per short ton higher at $483.80; May soybean oil futures traded $0.06 lower at $42.20.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the mixed overnight markets.