Steady-to-higher farm markets seen
The CME Group commodities are expected to start mixed Wednesday. The early calls for the commodities on Wednesday, January 2, 2012, are mixed. Corn is seen opening 1-2 cents higher. Soybeans are seen 1-2 cents lower and wheat 1-2 cents higher.
In overnight trading, the March corn futures contract traded 1 1/2 cents higher at $6.99 per bushel. January soybean futures traded 1 cent lower at $14.18 per bushel, and March wheat traded 1 cent higher at $7.79. For January soybean meal futures, the contract traded $0.60 per short ton lower at $420.00. January soybean oil futures traded $0.05 cents higher at $49.21.
The outside markets favorable for Wednesday's grain trade. The real factors driving the calls will be the mixed overnight markets.