Soybeans seen shooting higher
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, September 24, 2013, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 8 to 10 cents higher, and wheat 1 to 2 cents higher.
In overnight trading, the Dec. corn futures traded 1/4 of a cent higher at $4.53 per bushel. The Nov. soybean futures traded 13 cents higher at $13.21. The Dec. wheat futures contract traded 3/4 of a cent higher at $6.54. For Dec. soybean meal futures, the contract traded $5.80 per short ton higher at $415.00; Dec. soybean oil futures traded $0.01 higher at $42.25.
The outside markets are unfavorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.
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