A weaker start seen for farm markets
On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start mixed.
The early calls for the commodities on Wednesday, December 18, 2013, are mostly weaker. Corn is seen opening 1 to 2 cents lower to 1 to 2 cents higher, soybeans 1 to 2 cents lower, and wheat 1 to 2 cents lower.
In overnight trading, the March corn futures traded unchanged at $4.26 per bushel. March soybean futures traded 3/4 cent higher at $13.35. The March wheat futures contract traded 2 1/2 cents lower at $6.17. For March soybean meal futures, the contract traded $.70 per short ton higher at $437.30; March soybean oil futures traded $0.04 lower at $39.59.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.