Soybeans to Edge Higher 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, August 27, 2014, are mostly weaker. Corn is seen opening 1 to 2 cents lower, soybeans 3 to 5 cents higher, and wheat 1 to 2 cents lower. In overnight trading, the Dec. corn futures contract traded 2 1/4 cents lower at $3.62 per bushel. Nov. soybean futures traded 3 3/4 cents higher at $10.31. The Dec. wheat futures contract traded 1/4 cent lower at $5.56.
For Dec. soybean meal futures, the contract traded $2.00 per short ton higher at $345.50; Dec. soybean oil futures traded $0.02 higher at $33.19.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.