Corn, soybean prices seen mixed Friday
On Friday, the CME Group's corn, soybean, and wheat markets look mixed.
The early calls for the commodities on Friday, July 19, 2013, are mixed to mostly higher. Corn is seen opening 1 to 2 cents lower, soybeans 8 to 10 cents higher, and wheat 2 to 4 cents higher.
In overnight trading, the Sept. corn futures contract traded 1 cent lower at $5.39 per bushel. Dec. corn futures traded 3 cents lower at $4.98 per bushel. Aug. soybean futures traded 12 cents higher at $14.81, while the Nov. soybean futures traded 3 cents higher at $12.69. The Sept. wheat futures contract traded 3 cents higher at $6.63. For Dec. soybean meal futures, the contract traded $1.20 per short ton higher at $379.10; Dec. soybean oil futures traded 3 cents higher at $45.42.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the mixed overnight markets.