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China to push up farm markets

01/17/2012 @ 7:16am

Stronger China economic news and less-than-needed rain for Argentine crops, positions the CME Group corn, soybeans and wheat prices for a higher start Tuesday. 

The Early Calls for the commodities on Tuesday, January 17, 2012, are stronger. Corn is seen opening 8-10 cents higher, soybeans 16-18 cents higher, and wheat 8-10 cents higher.

In overnight trading, the March corn futures contract traded 8 1/2 cents higher at $6.08 per bushel. March soybean futures traded 18 3/4 cents higher at $11.77 per bushel, and March wheat traded 8 1/4 cents higher at $6.101/4. For March soybean meal futures, the contract traded $4.20 per short ton higher at $305.70. March soybean oil futures traded $0.77 higher at $51.06.

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


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

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