Soybean, Corn Markets To Dip Wednesday
On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start mostly lower.
The early calls for the commodities on Wednesday, July 30, 2014, are weaker. Corn is seen opening 2-4 cents lower, soybeans 8-10 cents lower and wheat 1-2 cents higher. In overnight trading, the Dec. corn futures contract traded 2 cents lower at $3.69 per bushel. Nov. soybean futures traded 8 3/4 cents lower at $10.86. The Sep. wheat futures contract traded 1 cent higher at $5.44. For Dec. soybean meal futures, the contract traded $3.00 per short ton lower at $351.30; Dec. soybean oil futures traded $0.14 lower at $36.39.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.