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Corn looks to open higher

04/10/2013 @ 7:30am

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.


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



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