Corn, soybean prices seen mixed
The CME Group's corn, soybean, and wheat markets are expected to start mixed-to-lower Thursday.
The early calls for the commodities on Thursday, June 6, 2013, are mostly lower. Corn is seen opening 2 to 4 cents lower, soybeans 6 to 8 cents lower, and wheat 1 to 2 cents higher.
In overnight trading, the July corn futures contract traded 2 cents higher at $6.59 per bushel. The December corn futures traded 2 cents higher at $5.44. July soybean futures traded 6 cents lower at $15.26 per bushel, while November soybeans traded 2 cents lower at $12.97. The July wheat traded 1 cent higher at $7.01. For July soybean meal futures, the contract traded $1.80 per short ton lower at $454.10. The July soybean oil futures traded 11 cents higher at $48.41.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.