Lower overnight markets and bearish export news are expected to keep a lid on gains for the CME Group corn, soybean markets Thursday.  

The early calls for the commodities on Thursday, December 27, 2012, are mostly lower. Corn is seen opening 2-4 cents lower, soybeans 1-2 cents higher, and wheat 4-5 cents lower.

In overnight trading, the March corn futures contract traded 2 cents lower at  $6.90 per bushel. January soybean futures traded 1/2 of a cent higher at $14.25 per bushel, and March wheat traded 5 cents lower at $7.68. For January soybean meal futures, the contract traded $0.80 per short ton higher at $432.10. January soybean oil futures traded 40 cents higher at $48.69. 

The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.

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