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Thursday trade starting lower
Jeff Caldwell
08/04/2011 @ 8:25am
Multimedia Editor for Agriculture.com and Successful Farming magazine.
Add a bearish overnight trade to some global signals that aren't too friendly to the grains and you've got a recipe for a lower start to Thursday's CME Group grain trade.
Early calls are corn 7-10 cents lower, soybeans 10-15 lower and wheat 10-15 lower, according to ag market analyst and ICAP Energy derivitaves manager in Chicago, Scott Shellady.
The U.S. Dollar index is surging and crude oil is $1 lower early Thursday. Major drivers for the expected lower start include moves by Japan and Switzerland to weaken their currencies.
