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Corn, soybean markets to rise Thursday

Updated: 11/08/2012 @ 3:56pm

With follow-through from overnight trading, the CME Group corn, soybean, and wheat markets are expected to start floor trading higher at 9:30 a.m. CT Thursday. 

Other factors that the market will consider today are the USDA Weekly Export Sales to be released at 7:30 a.m. CT and the USDA November Production and Supply/Demand Reports looming Friday.

The early calls for the commodities on Thursday, November 8, 2012, are higher. Corn is seen opening 1 to 2 cents higher, soybeans 4 to 6 cents higher, and wheat 2 to 4 cents higher.

In overnight trading, the December corn futures contract traded 1/2 cent lower at $7.45 per bushel. November soybean futures traded 4 cents higher at $15.11 per bushel, and December wheat traded 2 cents higher at $8.96. For December soybean meal futures, the contract traded $1.20 per short ton higher at $470.70. December soybean oil futures traded 17 cents higher at $48.79.

The outside markets are mostly favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.

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

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