Corn, soybean markets to dip
Lower overnight markets are expected to carryover into today's day trade on the CME Group corn, soybean Exchange.
The Early Calls for the commodities on Wednesday, December 19, 2012, are mostly lower. Corn is seen opening 1-2 cents lower, soybeans1-2 cents lower, and wheat 3-5 cents higher.
In overnight trading, the March corn futures contract traded 1 cent lower at $7.19 per bushel. Jan. soybean futures traded 1/2 of a cent lower at $14.65 per bushel, and March wheat traded 6 cents higher at $8.18. For Jan. soybean meal futures, the contract traded $1.00 per short ton lower at $443.90. Jan. soybean oil futures traded $0.22 lower at $49.39.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the lower overnight markets.