Corn, soybeans seen mixed Thursday
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.