A lower commodities start Friday
Much like yesterday, the CME Group corn, soybean and wheat markets are poised to repeat a back-and-forth trading session Friday.
The Early Calls for the commodities on Friday, March 2, 2012, are lower.
Corn is seen opening 3-5 cents lower, soybeans 4-6 cents lower and wheat 3-5 cents lower.
In overnight trading, the May corn futures contract traded 2 3/4 cents lower at $6.51 3/4 per bushel. May soybean futures traded 2 3/4 cents lower at $13.19 3/4 per bushel, and May wheat traded 1 3/4 cents lower at $6.62 1/4. For May soybean meal futures, the contract traded unchanged at $355.30. May soybean oil futures traded $0.31 lower at $53.96.
The outside markets are not favorable for Friday's grain trade. The real factors driving the calls will be the slightly lower overnight markets.