Soybeans To Extend Gains Thursday
On Thursday, the CME Group's corn, soybean and wheat markets are expected to start stronger.
The early calls for the commodities on Thursday, July 24, 2014, are higher. Corn is seen opening 1-2 cents higher, soybeans 10-12 cents higher and wheat 5-7 cents higher. In overnight trading, the Dec. corn futures contract traded 1 3/4 cents higher at $3.72 per bushel. Nov. soybean futures traded 12 1/4 cents higher at $10.88. The Sep. wheat futures contract traded 5 1/4 cents higher at $5.36. For Dec. soybean meal futures, the contract traded $4.20 per short ton higher at $351.50; Dec. soybean oil futures traded $0.20 higher at $36.55.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.