$15 soybeans on the way Wednesday
With a sharply higher overnight soybean trade leading the way, the CME Group corn and wheat markets can expect to hitch on for the ride higher Wednesday.
The Early Calls for the commodities on Wednesday, April 25, 2012, are higher.
Corn is seen opening 5-8 cents higher, soybeans 25-28 cents higher and wheat 6-8 cents higher.
In overnight trading, the July corn futures contract traded 5 1/2 cents at $6.13 per bushel. July soybean futures traded 30 1/2 cents higher at $14.95 1/2 per bushel, and July wheat traded 8 1/2 cents higher at $6.41. For July soybean meal futures, the contract traded $10.60 per short ton higher at $426.30. July soybean oil futures traded $0.48 higher at $56.17.
The outside markets are friendly for Wednesday's grain trade. The real factors driving the calls will be the sharply higher overnight soybean markets.