Soybeans seen extending gains Friday
On Friday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Friday, February 14, 2014, are stronger. Corn is seen opening 1-2 cents higher, soybeans 6-8 cents higher, and wheat 5-7 cents higher.
In overnight trading, the March corn futures contract traded 1 3/4 cents higher at $4.42 per bushel. March soybean futures traded 6 3/4 cents higher at $13.51. The March wheat futures contract traded 5 1/4 cents higher at $6.01. For March soybean meal futures, the contract traded $3.90 per short ton higher at $456.70. March soybean oil futures traded $0.15 lower at $39.39.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.