Soybeans, Corn Seen Higher Thursday
The CME Group corn, soybean, and wheat markets are poised to start slightly higher, although traders head to the sidelines ahead of next Monday's Planting Intentions/Quarterly Stocks Report.
The early calls for the commodities on Thurssay, March 27, 2014, are mostly higher. Corn is seen opening 1 to 2 cents higher, soybeans 4 to 6 cents higher, and wheat 1 to 2 cents lower.
In overnight trading, the May corn traded 1 1/4 cents higher at $4.85 per bushel, while the Dec. contract traded unchanged at $4.84. May soybean futures traded 4 cents higher at $14.44 per bushel, while the Nov. soybean futures are 3 1/4 cents lower at $11.96. May wheat futures traded 3 3/4 cents lower at $6.93.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.