Corn, soybean prices seen higher Tuesday
The CME Group corn, soybean, and wheat markets are poised to start lower, following mostly lower overnight prices Tuesday.
The early calls for the commodities on Friday, July 30, 2013, are higher. Corn is seen opening 4 to 6 cents higher, soybeans 4 to 6 cents higher, and wheat 6 to 8 cents higher.
In overnight trading, the Sep. corn traded 4 cents higher at $4.93 per bushel, while the Dec. contract traded 4 cents higher at $4.76. Aug. soybean futures traded 7 cents higher at $13.74 per bushel, while the Nov. soybean futures are 2 cents higher at $12.22. Sep. wheat futures traded 6 cents higher at $6.57.
The outside markets are slightly favorable for Tuesday's grain trade. The real factors driving the calls will be the higher overnight markets.