Soybean, Wheat Markets Seen Pushing Higher Monday
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly higher.
The early calls for the commodities on Monday, July 14, 2014, are mostly stronger. Corn is seen opening 2 to 4 cents lower, soybeans 1 to 2 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the Dec. corn futures contract traded 3 1/4 cents lower at $3.81 per bushel. Nov. soybean futures traded 2 1/2 cents higher at $10.77. The Sep. wheat futures contract traded 1 cent higher at $5.27. For Dec. soybean meal futures, the contract traded $1.80 per short ton higher at $346.80; Dec. soybean oil futures traded $0.13 lower at $36.83.
The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.