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Corn, soybean markets to dive

09/17/2012 @ 7:42am

The CME Group corn, soybean and wheat markets have significant pressure from a progressive corn harvest, bearish chart signals, and weaker exports. As a result, the open outcry trading is seen sharply lower Monday.

The Early Calls for the commodities on Monday, September 17, 2012, are lower. Corn is seen opening 12-13 cents lower, soybeans 25-27 cents lower, and wheat 12-14 cents lower.

In overnight trading, the Dec. corn futures contract traded 13 cents lower at $7.68 per bushel. November soybean futures trade 31 cents lower at $17.07 per bushel, and Dec. wheat traded 12 cents lower at $9.12. For Dec. soybean meal futures, the contract traded $10.20 per short ton lower at $515.20. Dec. soybean oil futures traded $0.76 lower at $56.61.

The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the sharply lower overnight markets.

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

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09/17/2012 @ 9:15am What a complete joke the cbot and USDA is

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