Corn, soybean prices to start higher
The CME Group corn, soybean and wheat markets are poised to reverse their lower pattern from yesterday, starting higher Wdnesday.
The Early Calls for the commodities on Wednesday, July 25, 2012, are higher. Corn is seen opening 7-9 cents higher, soybeans 9-11 cents higher, and wheat 10-12 cents higher.
In overnight trading, the Sep. corn traded up 6 cents at $7.96 per bushel, while the Dec. contract traded 7 cents higher at $7.85 1/4. Nov. soybean futures traded 9 cents higher at $16.58 1/4 per bushel. Sep. wheat futures traded 10 3/4 cents higher at $8.89 1/2.
The outside markets are favorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.