Corn, soybean markets to rise
Higher overnight markets will spark positive CME Group corn, soybean and wheat prices for Friday's day-time session.
The Early Calls for the commodities on Friday, May 25, 2012, are higher. Corn is seen opening 7-8 cents higher, wheat 10-12 cents higher and soybeans 3-5 cents higher.
In overnight trading, the July corn futures contract traded 8 cents higher at $5.86 1/2 per bushel. July soybean futures traded 3 cents higher at $13.79 per bushel, and July wheat traded 12 1/2 cents higher at $6.75. For July soybean meal futures, the contract traded $0.90 per short ton lower at $409.90. July soybean oil futures traded $0.29 higher at $49.71.
The outside markets are favorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.