Corn, soybean trade seen mixed
With no major theme, no fresh news to trade, the CME Group corn, soybean and wheat markets are expected to open slightly higher-to-mixed Friday.
The Early Calls for the commodities on Friday, November 4, 2011, are mostly higher. Corn and soybeans are seen opening 1-2 cents higher, and wheat 1-2 cents lower.
In overnight electronic trading, the Dec. corn futures contract traded 3/4 of a cent higher at $6.54 1/4 per bushel. The Jan. soybean futures contract traded 3/4 of a cent higher at $12.28 per bushel. The Dec. wheat futures contract traded 1/4 of a cent lower at $6.35 3/4. For Dec. soymeal futures, the contract traded $1.30 per short ton higher at $315.80 and Dec. soyoil $0.03 lower at $52.00.
The outside markets are mostly favorable for Friday's grain trade. The real factors driving the calls will be the slightly higher overnight markets.