Corn, soybeans to lean lower Monday
On Monday, the CME Group's corn, soybean and wheat markets are expected to start lower.
The early calls for the commodities on Monday, October 21, 2013, are lower. Corn is seen opening 1-2 cents lower, soybeans steady, and wheat 2-4 cents lower.
In overnight trading, the Dec. corn futures traded 1/2 of a cent lower at $4.41 per bushel. The Nov. soybean futures traded unchanged at $12.91. The Dec. wheat futures contract traded 2 1/2 cents lower at $7.03. For Dec. soybean meal futures, the contract traded $1.20 per short ton lower at $408.90; Dec. soybean oil futures traded $0.17 higher at $41.85.
The outside markets are unfavorable for Monday's grain trade. The real factors driving the calls will be the lower overnight markets.