Slightly higher farm markets seen Wednesday
On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Wednesday, February 19, 2014, are higher. Corn is seen opening 1-2 cents higher, soybeans 1-2 cents higher, and wheat 1-2 cents higher.
In overnight trading, the March corn futures contract traded 3/4 of cent higher at $4.49 per bushel. March soybean futures traded 1 cent higher at $13.62. The March wheat futures contract traded 1 cent higher at $6.13. For March soybean meal futures, the contract traded $1.50 per short ton higher at $458.40; March soybean oil futures traded $0.17 lower at $40.19.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.