A lower March start for corn, soy
The CME Group corn, soybean and wheat markets look to start out the month of March lower Thursday.
The Early Calls for the commodities on Thursday, March 1, 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 3 1/4 cents lower at $6.54 3/4 per bushel. May soybean futures traded 4 3/4 cents lower at $13.15 3/4 per bushel, and May wheat traded 3 3/4 cents lower at $6.64 1/4. For May soybean meal futures, the contract traded $1.30 per short ton lower at $351.60. May soybean oil futures traded $0.07 lower at $54.40.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.