Corn, soybean prices to rise
Demand for U.S. commodities has the CME Group soybean and corn markets on an upward trading movement Friday.
The Early Calls for the commodities on Friday, April 20, 2012, are higher.
Corn is seen opening 4-6 cents higher, soybeans 5-7 cents higher and wheat 1-2 cents lower.
In overnight trading, the July corn futures contract traded 4 1/4 cents higher at $6.16 1/4 per bushel. July soybean futures traded 5 1/2 cents higher at $14.26 1/2 per bushel, and July wheat traded 1 cent lower at $6.29. For July soybean meal futures, the contract traded $2.20 per short ton higher at $397.60. July soybean oil futures traded $0.25 higher at $55.84.
The outside markets are friendly forFriday's grain trade. The real factors driving the calls will be the mostly higher overnight markets.
Rumors of China buying U.S. corn this week has the marketwatchers optimistic of higher prices to end the week.