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Corn, soybeans to extend gains Thursday

06/07/2012 @ 7:10am

The CME Group corn, soybean and wheat markets can expect to start higher, as overnight prices remained well supported by outside markets and drier crop-weather outlooks. 

The Early Calls for the commodities on Thursday, June 7, 2012, are higher. Corn is seen opening 7-8 cents higher, soybeans 16-18 cents higher, and wheat 4-6 cents higher.

In overnight trading, the July corn futures contract traded 4 1/2 cents  higher at $5.90 3/4 per bushel. July soybean futures traded 20 cents higher at $14.06 per bushel, and July wheat traded 4 1/4 cents higher at $6.28 1/2. For July soybean meal futures, the contract traded $7.90 per short ton higher at $422.50. July soybean oil futures traded $0.34 higher at $49.59.

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

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

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