Grains expected to rebound Wednesday
After 2 days of sliding prices driven by factors like a surging U.S. Dollar, the CME Group grains are expected to rebound Wednesday, sources say.
Early calls are:
- Corn: 7-9 cents higher
- Soybeans: 11-13 higher
- Wheat: 3-5 higher
The grains reversed the previous trend in overnight trading. As of 7:00 AM CST, the overnight trade sent December 2010 corn futures 9 1/2 cents higher to $5.55 1/2 per bushel, according to Barchart.com. November soybeans were 14 cents higher at $11.94 per bushel, while December wheat was 4 3/4 per bushel at $6.76 1/4.