The CME Group corn, soybean and wheat markets have indicated that a pullback is queued up for Thursday's trade.

The Early Calls for the commodities on Thursday, July 26, 2012, are lower. Corn is seen opening 4-7 cents lower, soybeans 17-19 cents lower, and wheat 5-7 cents lower.

In overnight trading, the Sep. corn traded 3 3/4 cents lower at $7.90 per bushel, while the Dec. contract traded 2 3/4 cents lower at $7.85 1/4.   Nov. soybean futures traded 24 1/2 cents lower at $15.91 per bushel. Sep. wheat futures traded 6 3/4 cents lower at $8.96 1/2.

The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.

Discuss the corn, soybean and wheat markets in Marketing Talk.