Soybeans to Lead Corn Higher Tuesday
On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly higher.
The early calls for the commodities on Tuesday, April 1, 2014, are higher. Corn is seen opening 4 to 6 cents higher, soybeans 10 to 12 cents higher, and wheat 5 to 7 cents lower.
In overnight trading, the May corn futures contract traded 3 1/4 cents higher at $5.05 per bushel. May soybean futures traded 13 cents higher at $14.77. The May wheat futures contract traded 7 3/4 cents lower at $6.89. For May soybean meal futures, the contract traded $3.10 per short ton higher at $482.40; May soybean oil futures traded $0.33 higher at $40.75.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.