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Tuesday grains starting lower

08/30/2011 @ 8:46am

The pre-opening prices for the CME Group grain commodities for Tuesday, August 30, 2011 are lower. Corn is seen opening 4-6 cents lower, soybeans 4-6 cents lower and wheat down 3-5 cents.  

In overnight electronic trading, the Dec. corn futures contract traded 6 cents lower at $7.64 per bushel. The Nov. soybean futures contract traded 6 cents lower at $14.41 per bushel. The Dec. wheat futures contract traded 6 cents lower at $7.89. For Dec. soymeal futures, the contract traded $2.40 lower at $384.00 and Dec. soyoil $0.44 lower at $58.14.

The outside markets are not supportive for Tuesday's grain trade. The real factors driving the calls are the lower overnight markets.

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