Corn, soybeans to start higher Friday
The CME Group corn, soybean and wheat markets will have a chance to finish the week on a high note Friday.
The early calls for the commodities on Friday, October 19, 2012, are higher. Corn is seen opening 6 to 8 cents higher, soybeans 8 to 10 cents higher, and wheat 12 to 14 cents higher.
In overnight trading, the December corn futures contract traded 7 cents higher at $7.68 per bushel. November soybean futures traded 8 cents higher at $15.53 per bushel, and December wheat traded 14 cents higher at $8.83. For December soybean meal futures, the contract traded $3.90 per short ton higher at $467.20. December soybean oil futures traded 10 cents higher at $52.40.
The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.