Corn, soybean prices seen mixed Wednesday
The CME Group's corn, soybean, and wheat markets are expected to start mixed-to-higher Wednesay.
The early calls for the commodities on Wednesday, June 12, 2013, are slightly stronger. Corn is seen opening 2 to 4 cents lower, soybeans 5 to 7 cents higher, and wheat 5 to 7 cents lower.
In overnight trading, the July corn futures contract traded 2 cents higher at $6.57 per bushel. The December corn futures traded 2 cents lower at $5.49. July soybean futures traded 5 cents higher at $15.45 per bushel, while November soybeans traded 1 cent higher at $13.28. The July wheat traded 5 cents lower at $6.91. For July soybean meal futures, the contract traded $2.60 per short ton higher at $466.00. The July soybean oil futures traded 16 cents higher at $48.20.
The outside markets are unfavorable for Wednesday's grain trade.