Soybeans to trade double-digits higher Tuesday
On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start higher.
The early calls for the commodities on Tuesday, February 18, 2014, are higher. Corn is seen opening 1-2 cents higher, soybeans 10-12 cents higher, and wheat 3-5 cents higher.
In overnight trading, the March corn futures contract traded 1 3/4 cents higher at $4.47 per bushel. March soybean futures traded 13 cents higher at $13.50 1/2. The March wheat futures contract traded 3 3/4 cents higher at $6.02. For March soybean meal futures, the contract traded $5.10 per short ton higher at $455.10; March soybean oil futures traded $0.54 higher at $39.69.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.