Corn, soybean gains continue Tuesday
Today's CME Group corn, soybean, and wheat trading are expected to extend overnight gains. The early calls for the commodities on Tuesday, November 27, 2012, are higher. Corn is seen opening 5 to 7 cents higher, soybeans 8 to 10 cents higher, and wheat 7 to 9 cents higher.
In overnight trading, the December corn futures contract traded 4 cents higher at $7.52 per bushel. January soybean futures traded 10 cents higher at $14.34 per bushel, and March wheat traded 8 cents higher at $8.71. For January soybean meal futures, the contract traded $3.60 per short ton higher at $430.50. January soybean oil futures traded 19 cents higher at $49.77.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.