Corn looks to open higher
DES MOINES, Iowa (Agriculture.com)--The CME Group corn market is looking at a fourth day of higher trading, while soybean and what markets could drop Wednesday.
Most of the day's price movement will be based upon the USDA Supply/Demand Report to be released at 11:0am CT.
The early calls for the commodities on Wednesday, April 10, 2013, are mostly lower.
In overnight trading, the May corn futures contract traded 1 cent higher at $6.45 per bushel. May soybean futures traded 1 cent lower at $13.94 per bushel, and May wheat traded 3 cents lower at $7.06. For May soybean meal futures, the contract traded $1.00 per short ton lower at $393.80 May soybean oil futures traded $0.04 cents higher at $50.02.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the USDA's Report and the mostly lower overnight markets.