Corn, soybeans seen lower Monday
DES MOINES, Iowa (Agriculture.com)--To start the shortened trading week, the CME Group corn, soybean and wheat markets are seen lower Monday.
The early calls for the commodities on Monday, March 25, 2013, are lower. Corn is seen opening 1-2 cents lower. Soybeans are seen 4-6 cents lower and wheat 1-2 cents lower.
In overnight trading, the May corn futures contract traded 1 cent lower at $7.24 per bushel. May soybean futures traded 4 cents lower at $14.36 per bushel, and May wheat traded 1 cent lower at $7.29. For May soybean meal futures, the contract traded $1.60 per short ton lower at $417.70. May soybean oil futures traded $0.11 cents lower at $50.32.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.