Corn, soybeans to start higher Friday
The CME Group corn, soybean and wheat markets have a stronger tone to them Friday.
The early calls for the commodities on Friday, February 1, 2013, are higher. Corn is seen opening 4-6 cents higher. Soybeans are seen 10-12 cents higher and wheat 3-5 cents higher.
In overnight trading, the March corn futures contract traded 4 cents higher at $7.44 per bushel. March soybean futures traded 13 cents higher at $14.82 per bushel, and March wheat traded 5 cents higher at $7.84. For March soybean meal futures, the contract traded $3.10 per short ton higher at $429.50. March soybean oil futures traded $0.54 cents higher at $53.40.
The outside markets are fairly favorable for Friday's grain trade. The real factors driving the calls will be the higher overnight markets.