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Corn, soybean markets to drop Monday

02/11/2013 @ 7:13am

DES MOINES, Iowa (Agriculture.com)--A weak overnight market is expected to have a follow-through affect on the CME Group corn, soybean  and wheat prices Monday.

The early calls for the commodities on Monday, February 11, 2013, are lower. Corn is seen opening 2-4 cents lower. Soybeans are seen 17-18 cents lower and wheat 3-5 cents lower.

In overnight trading, the March corn futures contract traded 2 cents lower at $7.07 per bushel. March soybean futures traded 19 cents lower at $14.33 per bushel, and March wheat traded 4 cents lower at $7.52. For March soybean meal futures, the contract traded $6.70 per short ton lower at $415.70. March soybean oil futures traded $0.38 cent lower at $51.05. 

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

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

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