Corn, soybean markets to dip
The CME Group corn, soybean and wheat markets will begin the day's trade mostly lower Wednesday.
The Early Calls for the commodities on Wednesday, June 13, 2012, are mostly lower. Corn and soybeans are seen opening 1-2 cents lower, and wheat 5-6 cents higher.
In overnight trading, the July corn futures contract traded 2 3/4 cents lower at $5.81 1/4 per bushel. July soybean futures traded 1 3/4 cents lower at $14.33 1/4 per bushel, and July wheat traded 5 cents higher at $6.21. For July soybean meal futures, the contract traded $2.30 per short ton lower at $430.70. July soybean oil futures traded $0.14 higher at $49.86.
The outside markets are slightly favorable for Wednesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.