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A lower corn, soybean start Friday

03/16/2012 @ 6:27am

A lower overnight trade is signaling the same kind of prices for the CME Group corn, soybean and wheat day session Friday. After strong rallies yesterday, profit-taking could be the theme for the end of the week.

The Early Calls for the commodities on Friday, March 16, 2012, are lower. 

Corn is seen opening 3-4 cents lower, soybeans 2-4 cents lower and wheat 3-5 cents lower.

In overnight trading, the July corn futures contract traded 2 1/4 cents lower at $6.64 3/4 per bushel. July soybean futures traded 2 1/4 cents lower at $13.73 1/4 per bushel, and July wheat traded 3 cents lower at $6.69 1/2. For July soybean meal futures, the contract traded $0.90 per short ton lower at $371.80. July soybean oil futures traded $0.23 lower at $55.62.

The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.


Discuss the corn, soybean and wheat markets in Marketing Talk.

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