A mixed Monday seen for corn, soybeans
Based on overnight follow-through, the CME Group corn, soybean and wheat markets are seen opening floor trading mixed Monday.
The Early Calls for the commodities on Monday, November 5, 2012, are mixed.
Corn is seen opening 1-2 cents higher, soybeans 6-8 cents lower, and wheat 3-5 cents higher.
In overnight trading, the Dec. corn futures contract traded 1 1/4 cents higher at $7.40 per bushel. Jan. soybean futures traded 8 cents lower at $15.18 per bushel, and Dec. wheat traded 3 cents higher at $8.67. For Dec. soybean meal futures, the contract traded $1.00 per short ton lower at $474.90. Dec. soybean oil futures traded $0.35 lower at $48.91.
The outside markets are mostly unfavorable for Monday's grain trade. The real factors driving the calls will be the mixed overnight markets.