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Corn, soybeans to run higher Wednesday

Updated: 10/24/2012 @ 4:56pm

The CME Group corn, soybean, and wheat markets have the overnight support to start the floor trading at 9:30 a.m. (Central) on a higher note Wednesday. 

The early calls for the commodities on Wednesday, October 22, 2012, are higher. Corn is seen opening 3 to 5 cents higher, soybeans 9 to 10 cents higher, and wheat 3 to 5 cents higher.

In overnight trading, the December corn futures contract traded 1 cent higher at $7.57 per bushel. November soybean futures traded 9 cents higher at $15.62 per bushel, and December wheat traded 4 cents higher at $8.73 For December soybean meal futures, the contract traded $3.40 per short ton higher at $479.60. December soybean oil futures traded 28 cents higher at $51.60.

The outside markets are unfavorable for Wednesday'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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