Corn, soybean prices seen diverging Monday
On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly higher.
The early calls for the commodities on Monday, September 16, 2013, are slightly higher. Corn is seen opening 1 to 2 cents higher, soybeans 12 to 14 cents lower, and wheat 1 to 2 cents higher.
In overnight trading, the Dec. corn futures traded 1 cent higher at $4.59 per bushel. The Nov. soybean futures traded 15 1/2 cents lower at $13.66. The Dec. wheat futures contract traded 1 cent higher at $6.42. For Dec. soybean meal futures, the contract traded $6.20 per short ton lower at $436.60; Dec. soybean oil futures traded $0.16 lower at $42.40.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.