Corn, soybean markets seen rising
DES MOINES, Iowa (Agriculture.com)--For Tuesday, the CME Group corn, soybean markets seen slightly higher Tuesday.
The early calls for the commodities on Tuesday, March 5, 2013, are mostly higher. Corn is seen opening 1-2 cents higher. Soybeans are seen 2-4 cents higher and wheat mixed.
In overnight trading, the March corn futures contract traded 2 cents higher at $7.25 per bushel. March soybean futures traded 4 cents higher at $14.94 per bushel, and March wheat traded unchanged at $6.96. For March soybean meal futures, the contract traded $3.10 per short ton higher at $435.30. March soybean oil futures traded $0.13 cents higher at $50.18.
The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.
Also, the CME Group is seeking approval to reduce trading hours for the farm markets. After surveying customers through online and one-on-one methods, the Exchange has proposed the new trading hours to the CFTC agency.