Corn, soybeans to consolidate Thursday
On Thursday, the CME Group's corn and soybean markets are expected to start lower.
The early calls for the commodities on Thursday, September 26, 2013, are mostly lower. Corn is seen opening 1 to 2 cents lower, soybeans 6 to 8 cents lower, and wheat 2 to 4 cents higher.
In overnight trading, the Dec. corn futures traded 2 1/2 cents lower at $4.52 per bushel. The Nov. soybean futures traded 8 3/4 cents lower at $13.13. The Dec. wheat futures contract traded 2 cents higher at $6.72. For Dec. soybean meal futures, the contract traded $3.00 per short ton higher at $414.10; Dec. soybean oil futures traded $0.16 lower at $41.93.
The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.